Servotech Renewable Power System Ltd (NSE: SERVOTECH), a leading name in India’s clean energy manufacturing sector, has been awarded a Rs 73.70 crore grid-connected rooftop solar project by the New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP), Energy Department, Govt. of Andhra Pradesh under PM Surya Ghar: Muft Bijli Yojana. The project involves the deployment of grid-connected rooftop solar (RTS) systems across the Kavali division, marking a major step forward in expanding solar access for underserved communities.
Under this mandate, Servotech Renewable will execute the design, engineering, supply, installation, testing and commissioning of rooftop solar plants in varying capacities for 5,886 Scheduled Caste (SC) and Scheduled Tribe (ST) households. The project will be implemented through a Utility-Led Aggregation (CAPEX) model and includes 5 years of comprehensive Operation & Maintenance (O&M). This initiative aims to deliver reliable, clean, and cost-effective energy to thousands of beneficiaries, directly supporting Andhra Pradesh’s renewable energy vision and contributing to long-term socio-economic upliftment.
About the Company
Servotech Renewable Power System Limited, formerly Servotech Power Systems Ltd., is an NSE-listed company specialising in advanced EV charging solutions. Leveraging over two decades of expertise in electronics, they design and develop a wide array of AC and DC chargers compatible with various electric vehicles for both commercial and domestic applications. With their robust engineering capabilities, Servotech aims to be a key contributor to India's burgeoning EV infrastructure, solidifying their legacy as a trusted brand known for innovation and technological advancements across the country.
The company has a market cap of over Rs 2,100 crore and the stock is trading below Rs 100 per share. From Rs 2.20 to Rs 96.90 per share, the stock has delivered multibagger returns of over 4,300 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.
Solar Solution Provider-Servotech Renewable Power System Secures Rs 73.70 Crore Rooftop Solar Project from NREDCAP, Govt. of Andhra Pradesh