Gensol Engineering Ltd. (BSE: 542851, NSE: GENSOL), today announced its entry into the U.S. market with the launch of its Delaware-based subsidiary, Scorpius Trackers Inc. With this, Scorpius is set to debut its state-of-the-art tracker technology at the RE+ Conference in Anaheim, 9 – 12 September 2024, with subsequent showcase planned in Austin and San Diego. The first U.S. office of Scorpius Trackers will be strategically located in California, positioning the company at the heart of one of the most dynamic renewable energy markets globally.
This strategic move marks Scorpius’ commitment to leverage the vast potential of the U.S. solar tracker market, which is the largest in the world and deploys trackers aggregating over 25,000 MW annually. Importantly, the U.S. tracker market is growing at a robust CAGR of more than 20%. With an ambitious goal to supply over 2,000 MW annually by 2028, Scorpius Trackers Inc. aims to capitalize on its (Scorpius India) decade long experience and 1,000 MW+ of contracted orders across key markets including India, Africa, Japan, and the Middle East. The company’s advanced technology, designed to perform optimally on both flat and undulating terrains, coupled with its competitive pricing, is set to drive this growth.
Commenting on the expansion, Anmol Singh Jaggi, Chairman and Managing Director, Gensol Engineering Ltd., said, “The U.S. market is pivotal to our global strategy, and the launch of Scorpius Trackers Inc. marks a significant milestone in our growth journey. With USA leading the world in solar tracker adoption, our entry into this market aligns perfectly with our vision to provide designed in India and made in India high technology products to the world. We are confident that under leadership of Shailesh Vaidya, Scorpius Trackers will rapidly establish itself as a key player in the U.S. and help us tap into the potential of solar energy across the world.”
Shailesh Vaidya, Co-founder and CEO of Scorpius Trackers Pvt. Ltd. (India), who will lead the U.S. operations as CEO of Scorpius Trackers Inc., added, “Entering the U.S. market is a landmark achievement for Scorpius Trackers. Our proven technology and deep expertise in diverse global markets will ensure that we develop cutting-edge, reliable, and cost-effective solutions that will cater to the unique needs of U.S. utility-scale plants. This expansion will pave the way for substantial growth and further establish Scorpius Trackers as a leader in the solar tracking industry.”
Founded in 2012, Scorpius Trackers has quickly established itself as a leader in the solar tracking industry, known for its proactive, end-to-end single-axis solar tracking solutions. The company boasts globally patented technology and has installations across Japan, the Middle East, India and Africa. The acquisition by Gensol Engineering Limited in 2023 has further solidified its market position, enhancing its capabilities through a history of successful collaborations on diverse solar projects worldwide.
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