Servotech Renewable Power System Ltd, a manufacturer of solar energy solutions and EV charging systems, has signed an agreement to acquire a 27% post-money equity stake in Rhine Solar Ltd., a New Delhi-based manufacturer of photovoltaic (PV) modules approved under the Approved List of Models and Manufacturers (ALMM).
This investment marks Servotech’s entry into the solar panel manufacturing sector, aiming to enhance its presence in the renewable energy market. By collaborating with Rhine Solar, which currently operates a 100 MW production facility, Servotech plans to scale up manufacturing capacity to 600 MW within the next year.
The move is expected to support domestic solar panel production, reduce reliance on imports, and align with national clean energy initiatives. Rhine Solar’s infrastructure and industry experience will play a central role in meeting growing demand for solar modules, both in India and abroad.
Raman Bhatia, Managing Director of Servotech, stated, “This acquisition is a significant step in our strategy to become a fully integrated solar solutions provider. Entering PV module manufacturing allows us to address a critical part of the supply chain and support the transition to more sustainable energy sources. Our focus will include advanced technologies such as N-type TOPCon panels, which offer higher efficiency and durability.”
The investment also strengthens Servotech’s supply chain and complements its existing solar and EV charging businesses. The integration is expected to enhance product quality control, streamline operations, and improve competitiveness in both domestic and international markets.
Servotech Renewable Power System Ltd, formerly known as Servotech Power Systems Ltd, is listed on the NSE and specializes in EV charging infrastructure and renewable energy solutions. With over 20 years of experience in electronics, the company provides a range of AC and DC chargers for various applications and supports the growth of EV infrastructure across India.
