Servotech Renewable Signs ₹400 Crore MoU with Haryana Govt. to Expand Renewable Energy Manufacturing Capacity in the State

New Delhi, 2nd June 2026: Servotech Renewable Power System Ltd. (NSE: SERVOTECH), India’s 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, to expand its expand its manufacturing and warehousing operations in the state with a proposed investment of approximately ₹400 crore. The investment is expected to generate around 500 direct/Indirect employment opportunities.

The MoU was signed in the presence of Hon’ble Chief Minister of Haryana Shri Nayab Singh Saini at the official launch of the ‘Make in Haryana’ Industrial Policy 2026, held in Gurugram on 1st June 2026. The launch event also unveiled a compendium of nine sectoral policies aimed at positioning Haryana as a preferred destination for industrial and clean-energy investments.

Under the agreement, Servotech Renewable and HEPC will establish a framework for collaboration and cooperation to facilitate the company’s proposed expansion plans in Haryana. The project is expected to attract an investment of approximately ₹400 crore and generate around 500 employment opportunities, contributing to the state’s industrial and economic growth.

The proposed investment will be deployed in a phased manner over the next 24 to 36 months and will support the expansion of Servotech’s manufacturing capacity across EV chargers, solar products, Battery Packs, BESS and Power electronics, sectors identified as thrust areas under the Make in Haryana Industrial Policy 2026. The expansion is intended to scale production capacity, improve operational efficiencies, deepen import substitution, and strengthen the Company’s ability to serve growing domestic and export demand. Specific site selection within Haryana is under evaluation.

As part of the MoU, the Haryana Government, through HEPC, has committed to providing facilitation support and ease-of-doing-business assistance for the successful implementation of the proposed investment. The collaboration reflects the shared objective of accelerating industrial development, promoting clean energy manufacturing, and strengthening Haryana’s position as a hub for sustainable growth and innovation.

Commenting on the development, Raman Bhatia, Managing Director, Servotech Renewable Power System Ltd., said, “We are delighted to partner with the Government of Haryana. Haryana has emerged as one of India’s most progressive investment destinations, and the launch of the Make in Haryana Industrial Policy 2026 reinforces the state’s commitment to industrial growth, clean-energy manufacturing and innovation. Our proposed ₹400 crore investment aligns with Servotech’s long-term vision of scaling renewable energy manufacturing capabilities and is a meaningful step towards our stated ambition of reaching ₹1,500 crore in revenue by FY 2027. We believe this collaboration will strengthen our operational footprint and contribute to Haryana’s clean-energy ambitions and broader economic development.”

About Servotech Renewable Power System Limited (Formerly known as Servotech Power Systems Ltd.):

Servotech Renewable Power System Limited (Formerly known as Servotech Power Systems Ltd.) is an NSE-listed organization that develops tech-enabled EV charging and renewable energy solutions, leveraging over two decades of experience and expertise in the electronics space. The Company offers an integrated portfolio across DC chargers, solar inverters (Hybrid and GTI models), Battery Energy Storage Systems (BESS), and lithium-ion battery packs, serving multiple applications across commercial and domestic segments. With its comprehensive engineering capabilities, Servotech plays a pivotal role in developing India's renewable energy and EV technology infrastructure. As a trusted brand with a strong pan-India presence, the Company's legacy is marked by proven innovations and the development of advanced technologies.

For more information, please visit: https://www.servotech.in

Disclaimer:

This press release contains “forward-looking statements” — that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of the renewable energy, electronics, and EV infrastructure industries; from the integration and performance of our subsidiaries and joint ventures; and from numerous other matters of national, regional, and global scale, including those of a political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different from those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.