### **Overview** **GP Eco Solutions India Limited (NSE: GPECO)** is a rapidly growing, integrated clean energy solutions company headquartered in Noida, North India. Founded in 2009 (incorporated in 2010), the company has evolved from a regional LED and solar distributor into a vertically integrated player across **distribution, engineering procurement and construction (EPC), manufacturing, and consultancy**, with a strategic focus on **Battery Energy Storage Systems (BESS)** and **smart energy ecosystems**. Listed on the National Stock Exchange (NSE) in FY25, GP Eco is positioning itself as a leader in India’s renewable energy transition, leveraging domestic manufacturing, technological innovation, and strategic acquisitions under the **Atma Nirbhar Bharat** and **Make in India** initiatives. --- ### **Core Business Structure & Subsidiaries** GP Eco operates through a synergistic ecosystem of three key subsidiaries: 1. **iNVERGY (OEM Manufacturing Arm)** - Focus: Design and manufacturing of **solar inverters (hybrid/ongrid/off-grid)**, **LiFePO₄ battery packs**, and **BESS (Battery Energy Storage Systems)** - Product Range: - Inverters: 1.5 kW to 80 kW - BESS: 400 kWh to 5 MWh modular systems - Production Capacity: - Current: >500 MWh at Noida facility - Target: **3 GWh by Q4 FY26**, scaling to **5 GWh by FY28** via automation and expansion - R&D-driven operations with global presence at expos including Intersolar India, MEE Dubai, and REI 2025 - New 217,000 sq. ft. manufacturing plant in Dasna, Uttar Pradesh set for launch in Q4 FY26 2. **GPES Green Projects Pvt. Ltd. (EPC & IPP Arm)** - Focus: Turnkey **EPC, PMC, O&M, and IPP (Independent Power Producer)** services - Project Portfolio: - **120+ MW** of installed and under-execution solar EPC projects - Includes **25+ MW under PM-KUSUM Yojana**, valued at INR 60.5 crores - Flagship **95 MWp and 128 MWp EPC contracts** underway - Developing a **170 MW solar park**, 40% pre-booked capacity - Full lifecycle project delivery with long-term O&M contracts for recurring revenue 3. **AN3 Techno Power Ltd. (Brand: FuelON)** - Focus: **Lithium-based energy storage systems** - GP Eco holds **51% stake**, acquired in FY2025–26, to secure in-house BESS production - Contributes Li-ion technology and manufacturing expertise integrated with iNVERGY-branded products The company also markets its own **Invergy** brand for inverters and storage systems and serves as the **largest authorized distributor for Sungrow** (global #1 solar inverter brand) in North India. --- ### **Market Position & Strategic Advantages** - **Early-Mover in BESS**: Among a select few **Indian publicly listed companies** with **fully integrated domestic BESS manufacturing capabilities**, including LiFePO₄ batteries, inverters, and containerized systems. - **Integrated Ecosystem**: Combines **distribution, EPC, and manufacturing**, enabling faster project delivery, higher margins, and operational efficiency. - **Technology-Led Differentiation**: - **Sunergy (Senergy)**: IoT-based SCADA & Energy Management System (EMS) for real-time monitoring and predictive maintenance - **Invergy Electric**: AI and IoT-integrated LT/HT switchgear panels for intelligent grid management - Proprietary system designs enable **international price competitiveness** - **Strong Talent Pool**: Recruited senior professionals with 10–25 years of experience in BESS, EPC, EVs, and power electronics (e.g., Sunil – 28 years in battery tech; Alankrit Chaudhary – 1 GW+ solar commissioned). - **Omni-Channel Distribution**: - 40+ channel partners, 27 warehouses, and presence across **300+ districts** - Digital-first marketing (SEO, WhatsApp, co-branded content) with field support - Strong focus on **Tier 2/3 markets** under govt. subsidy programs like PM Surya Ghar Yojana --- ### **Growth Strategy & Expansion** #### **Manufacturing Expansion** - **Noida/Ghaziabad Facility**: - 500 MWh BESS capacity currently operational (from AN3 Techno acquisition) - **2.5 GWh automated BESS line** under development, set for completion by Q4 FY26 - **Total BESS capacity target: 5 GWh by FY28 (two-phase expansion)** - **Solar Module Manufacturing**: - Plans for a **1.2 GW solar cell and module plant**, set to start production by FY26 #### **Geographic Expansion** - Strong presence in **North India**, now expanding into **South India** and targeting **international markets**: - **Middle East, Africa, Southeast Asia**, and EU (MoUs in progress with **Ghana government and European Union**) - Products aligned with international standards for export readiness --- ### **Key Projects & Market Demand** - **Solar EPC Pipeline**: - ₹150–200 crores in ongoing and upcoming projects - 12 MW solar plant for Paradip Port; 1.5 MW for Oberoi Hotels - **BESS Orders**: - Current order book: ~30 MWh - Target: **50 MWh by Mar 2026** - Pipeline: **>150 MWh by Mar 2026** - **Government Schemes**: - Active in **PM-KUSUM**, **PM Surya Ghar Yojana**, and CPSU tenders - Regulatory tailwinds: Hybrid inverter mandates and subsidies driving demand