In a big leap toward sustainable agriculture, Servotech Renewable Power System, a key player in India’s solar energy and EV charging sectors, has bagged a sizeable order from the Uttar Pradesh New and Renewable Energy Development Authority (UPNEDA). Announced on 30 December 2024, this deal focuses on delivering 1100 grid-connected solar-powered agriculture pumps under the government-backed KUSUM Component C-1 Scheme.
The contract, pegged at approximately INR 31 crores, is more than just another business deal—it’s a move signalling transformative changes in farming practices across Uttar Pradesh. By prioritizing solar-powered solutions, Servotech is setting the stage for the widespread adoption of renewable energy in agriculture.
Servotech’s Partnership With UPNEDA – Project Breakdown
The scope of the project covers the manufacturing, supply, installation, testing, and commissioning of 1,094 grid-connected agriculture pumps. These pumps will integrate seamlessly with solar power plants, offering capacities of 2 HP, 3 HP, and 5 HP. Complementary solar plants ranging from 3 kW, 4.5 kW, and 7.5 kW capacities will also form part of the system.
But there’s more to the story than just numbers. This initiative represents a major step toward optimizing energy use, minimizing fossil fuel reliance, and improving irrigation efficiency. Farmers, often at the mercy of erratic electricity supply and expensive diesel-powered pumps, now have a cost-effective and sustainable alternative.
How Farmers Benefit from Solar Agriculture Pumps?
Sarika Bhatia, Director at Servotech Renewable Power System Ltd., didn’t hold back when discussing the far-reaching implications of this project. “This isn’t just about pumps,” Bhatia said. “It’s about giving farmers the tools to thrive in a sustainable, low-cost way.”
She highlighted several advantages:
- Lower Costs: Farmers can ditch diesel generators and sidestep rising fuel expenses.
- Reliable Energy Supply: Solar power ensures consistent energy, reducing dependency on erratic grids.
- Improved Productivity: Efficient irrigation systems mean better crop yields and modern farming practices.
- Rural Development: Economic growth in villages, fueled by energy independence, becomes a tangible outcome.
Bhatia also pointed out how the project dovetails with Uttar Pradesh’s green energy targets, calling it a “milestone moment” for sustainable agriculture.
Inside the KUSUM Scheme: Making Solar Adoption Feasible
The KUSUM Component C-1 Scheme is the driving force behind this initiative. Focused on pushing solar energy solutions in agriculture, it offers farmers the financial cushion needed to make the switch. Here’s how the numbers stack up:
- 70% Subsidy: Available for farmers from Scheduled Tribes, Vantangia, and Musahar communities.
- 60% Subsidy: For farmers outside these categories.
- 10% Contribution: Farmers contribute just 10%, making the technology accessible.
This structure lowers barriers to entry, enabling more farmers to embrace solar power. It’s not just about cutting costs—it’s about boosting energy security and addressing environmental challenges head-on.
Servotech Renewable Power System – Overview
For those unfamiliar with Servotech, the company has been a driving force in India’s renewable energy landscape for over two decades. Its portfolio spans cutting-edge EV chargers—both AC and DC—designed for various vehicle types, alongside advanced solar solutions.
Servotech’s focus on sustainability and tech-driven solutions has made it a leader in the renewable energy transition. With the UPNEDA contract under its belt, the company further cements its reputation as a catalyst for change.
Paving the Way for Renewable Agriculture
The UPNEDA partnership isn’t just a win for Servotech—it’s a win for farmers, sustainability advocates, and India’s clean energy mission. Solar-powered agriculture pumps promise to cut costs, improve efficiency, and bolster rural economies.
Looking ahead, this project could serve as a blueprint for scaling similar initiatives across the country. For now, farmers in Uttar Pradesh are set to benefit from modern, sustainable solutions that align with a greener, more prosperous future.
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 at INR 169.41, delivering a fivefold return since its listing and earning the status of a multibagger stock.
