Why Are GESAN Shares Rising? Here Are the Details

Reason for GESAN's Rise

Girişim Elektrik (GESAN) signed a contract for the "Design, Supply, and Installation of Solar Energy Power Plant Project" tender conducted by the Konya Metropolitan Municipality. Following the signing of the contract within the scope of the tender, GESAN shares increased by over 4%.

Tender Amount and Project Details

In a statement made via the Public Disclosure Platform (KAP) on Friday evening, it was stated that the tender amount, excluding taxes, is 29.55 million dollars. The products to be used for the installation under the project will be supplied by GESAN’s subsidiary Europower Enerji (EUPWR) and Peak PV Solar. The products include supporting structures, transformer kiosks, and photovoltaic panels. It was announced that an order of approximately 17.9 million dollars will be placed for these products with EUPWR and Peak PV Solar.

Increase in Ongoing Contracts

With this contract, the total of GESAN’s ongoing work contracts has exceeded 500 million dollars. Additionally, Europower Enerji's ongoing contracts have exceeded 150 million dollars, showing significant growth.

Stock Performance

Following the agreement, GESAN shares were trading at 45.90 TL with an increase of 2.78% as of 11:28 on the trading day. EUPWR shares also showed an increase of 3.56% during the day and then rose by 2.45% to reach 27.60 TL at the same time.

Becoming a favorite among investors, GESAN is drawing attention with its new projects and growing contracts. Important developments are happening that will create opportunities for investors during this process.