Servotech Renewable Secures ₹400 Crore MoU with Haryana Govt for Energy Manufacturing Expansion
Servotech Renewable Power System Ltd., a leading manufacturer of solar and renewable energy solutions, has signed a Memorandum of Understanding (MoU) with the Haryana Enterprises Promotion Centre (HEPC), Department of Industries & Commerce, Government of Haryana. The agreement formalizes the company's plans to significantly expand its manufacturing and warehousing operations within the state, backed by a proposed investment of approximately ₹400 crore.The MoU was executed on June 2, 2026, following the official launch of the 'Make in Haryana' Industrial Policy 2026, which took place in Gurugram on June 1, 2026, in the presence of the Chief Minister of Haryana, Shri Nayab Singh Saini.
The collaboration between Servotech Renewable and HEPC establishes a framework designed to facilitate the company's proposed expansion plans. This ambitious project is anticipated to contribute to Haryana's industrial and economic growth by creating an estimated 500 direct or indirect employment opportunities.
Investment Scope and Timeline
The proposed investment of approximately ₹400 crore aims to scale production capacity and improve operational efficiencies. The expansion will focus on establishing manufacturing capacity across Battery Energy Storage Systems (BESS) and Power electronics, aligning with the 'Make in Haryana' Industrial Policy 2026.The deployment of this enhanced capacity will occur in a phased manner over the next 24 to 36 months. The expanded facility is intended to support the growth of Servotech's offerings in sectors including EV chargers, solar products, and battery packs.
The Haryana government, through HEPC, committed to assisting the company by providing necessary facilitation support and ease-of-doing-business assistance to ensure the successful implementation of the proposed investment.
Key details regarding the expansion commitment are summarized below:
| Metric | Detail |
|---|---|
| Investment Amount | Approximately ₹400 crore |
| Employment Generation | Around 500 opportunities |
| Capacity Focus | BESS and Power electronics |
| Deployment Timeline | 24 to 36 months (Phased) |
| Partner Authority | Haryana Enterprises Promotion Centre (HEPC) |
Leadership Commentary
Commenting on the development, Raman Bhatia, Managing Director of Servotech Renewable Power System Ltd., stated that the partnership with the Government of Haryana reinforces the state's commitment to clean-energy manufacturing and industrial growth.Bhatia noted that the proposed ₹400 crore investment aligns with Servotech's long-term vision for scaling its renewable energy manufacturing capabilities. He emphasized that the collaboration is a meaningful step toward strengthening the company's operational footprint and contributing to Haryana's overall economic development and clean-energy objectives.
Servotech Renewable Power System Limited, which develops tech-enabled EV charging and renewable energy solutions, offers an integrated portfolio that includes DC chargers, solar inverters (Hybrid and GTI models), Battery Energy Storage Systems (BESS), and lithium-ion battery packs for both commercial and domestic applications.
SERVOTECH Stock Price Movement
As of 1:25 PM, shares of Servotech Renewable Power System Limited are slipping by 1.07% in live trading, currently hovering at ₹97.31. The equity trades on a volume of 1.15 million shares, confirming selling pressure throughout the day's session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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