Servotech Renewable Power System has bagged a major order to develop a 4.1 MW on-grid rooftop solar power project for Waltair Division of East Coast Railway, headquartered in Visakhapatnam, Andhra Pradesh. The project worth INR 15.8 crore is a big step forward for Indian Railways towards sustainability and renewable energy integration.
As per the agreement, Servotech will be responsible for the complete execution of the solar project – design, manufacturing, supply, installation, testing and commissioning of rooftop solar photovoltaic (PV) systems across various sites in Waltair Division.
“This is a big order for us and reaffirms our position as a trusted player in the Indian renewable energy space,” said Sarika Bhatia, Director of Servotech Renewable Power System. “We are happy to contribute to Indian Railways’ mission of reducing carbon footprint and promoting green transportation.”
The project is in line with the overall environmental goals of Indian Railways which has been actively pursuing green energy options to reduce its dependence on conventional energy sources and emissions. Waltair Division will implement efficient high standard solar solutions in line with national sustainability targets with Servotech’s expertise.
Waltair Division order adds to Servotech’s growing public sector portfolio and proves its capability of handling large solar projects. Earlier known as Servotech Power Systems, the company has been expanding its presence in the renewable energy space with operations in both solar and EV charging solutions.
With over two decades of experience in the electronics industry, the company has evolved into a tech enabled energy solutions company. Its product range includes a wide range of AC and DC EV chargers for domestic and commercial use, making it a key player in India’s emerging EV infrastructure landscape.
Servotech made its stock market debut on 24 August 2017, with an IPO issue size of INR 15.12 crore. The stock was listed at INR 30.70 per share, reflecting a slight decline of 0.97% from its issue price. Currently, the stock is trading around INR 130.22 per share, reflecting a ~320% return since its listing and earning the status of a multibagger stock.