Construction engineering company Gensol Engineering shares skyrocketed 9% on 25 October after the company bagged a contract worth Rs 301.5 crore from Maharashtra State Power Generation Co Ltd.

The contract is for the installation and commissioning of a solar power plant and has to be completed within a period of 12 months.

In its regulatory filing, the company said, “Gensol Engineering Limited is delighted to announce its triumphant bid for the conceptualization, engineering, provisioning, installation, testing, and commissioning of a state-of-the-art 62 MWAC Crystalline Solar PV Technology Grid Interactive Solar PV Power Plant. Situated at Village Paras, Taluka Balapur, District Akola in Maharashtra, this initiative is a testament to Gensol’s expertise and commitment to renewable energy, as endorsed by Maharashtra State Power Generation Co. Ltd. headquartered at ‘HDIL Tower’, Bandra (East), Mumbai.”

Additionally, the company has also been entrusted with a 5-year operation and maintenance of the solar power plant and its associated evacuation mechanism.

The company is a part of the Gensol Group of companies that offer EPC (engineering, procurement, and construction) services for the development of solar power plants.

At 1:42 pm, the shares of Gensol Engineering were trading 4.40% above at Rs 875.35 on NSE.