Servotech Power Systems rallied 3.19% to Rs 182.20 after it secured a 5.6 MW on‐grid rooftop solar power plant order from Uttarakhand New and Renewable Energy Development Agency (UREDA) worth Rs 30.2 crores.
The firm stated that this order will act as a major push in building a solar-powered state overall, bringing India closer to becoming a solar-powered nation.The project entails designing, supplying, installation, net metering, testing and commissioning of on-grid rooftop solar power plants.
Further, the project also involves Servotech to deliver comprehensive warranty maintenance for the next 5 years, tending to 1 kW‐1500 kW on‐grid rooftop solar installations done at various strategic locations, which include government offices, colleges, buildings, hospitals and institutions, etc. across the state contributing to the states renewable energy goals and decarbonisation.
Sarika Bhatia, Director of Servotech Power Systems, said, Were elated to work with UREDA in enhancing our green efforts by capitalising on enhancing the energy access and sustainability for the natives in Uttarakhand. The company's proven track record of providing exceptional and efficient solar solutions has established the company as a reliable partner among the nodal agencies and created a strong niche in India's renewable energy market.
We are confident that our reliable solar solutions will empower Uttarakhand with clean, reliable, and affordable solar energy. This project aligns with our vision of a sustainable future and will contribute to the state's energy security and environmental goals.
Servotech Power Systems develops tech-enabled EV charging solutions. The company offers an extensive range of AC and DC chargers which are compatible with different EVs and serve multiple applications such as commercial and domestic.
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The companys consolidated net profit surged 262.5% to Rs 11.31 crore on 132.4% jump in net sales to Rs 199.67 crore in Q2 FY25 over Q2 FY24.
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