New Delhi, June 2, 2026: Renewable energy and EV charging solutions provider Servotech Renewable Power System Ltd. has signed a Memorandum of Understanding (MoU) with the Haryana Enterprises Promotion Centre (HEPC) to expand its manufacturing and warehousing operations in the state through a proposed investment of approximately ₹400 crore.
- Investment to Support Renewable Energy and EV Infrastructure Growth
- Strengthening Domestic Manufacturing Capabilities
- Haryana Positions Itself as a Clean Energy Manufacturing Hub
- Servotech Targets Future Growth
- Growing Demand for EV Charging and Energy Storage Solutions
- About Servotech Renewable Power System
- Outlook
The investment is expected to generate around 500 direct and indirect employment opportunities while supporting the company’s long-term growth strategy in clean energy technologies and electric mobility infrastructure.
The agreement was formalized during the launch of the Make in Haryana Industrial Policy 2026 in Gurugram, in the presence of Haryana Chief Minister Nayab Singh Saini. The event also marked the introduction of multiple sector-specific policies designed to attract industrial investment and accelerate economic development across the state.
Investment to Support Renewable Energy and EV Infrastructure Growth
Under the MoU, Servotech Renewable and HEPC will collaborate to facilitate the company’s expansion plans and create a framework for project implementation in Haryana.
The proposed investment will be executed in phases over the next 24 to 36 months and will focus on increasing manufacturing capacity across several high-growth sectors, including:
- EV charging solutions
- Solar energy products
- Battery energy storage systems (BESS)
- Lithium-ion battery packs
- Power electronics equipment
These segments have been identified as priority sectors under Haryana’s industrial development roadmap and are expected to play a key role in India’s clean energy transition.
Strengthening Domestic Manufacturing Capabilities
The expansion aims to enhance Servotech’s production capabilities while reducing dependence on imports and supporting the government’s push for domestic manufacturing.
According to the company, the new facilities will help improve operational efficiencies, increase production output, and strengthen its ability to serve both domestic and international markets.
The project is also expected to support India’s broader goals of expanding renewable energy adoption, accelerating EV infrastructure deployment, and building a resilient clean technology supply chain.
While the company has not yet finalized the location for the project, multiple sites within Haryana are currently under evaluation.
Haryana Positions Itself as a Clean Energy Manufacturing Hub
As part of the agreement, the Haryana government will provide facilitation support and ease-of-doing-business assistance through HEPC to help expedite project execution.
The partnership reflects Haryana’s efforts to attract investments in advanced manufacturing, clean energy technologies, and sustainable industrial development.
The state’s newly launched industrial policy aims to position Haryana as a preferred destination for companies operating in emerging sectors such as renewable energy, electric mobility, advanced electronics, and energy storage solutions.
Servotech Targets Future Growth
Commenting on the development, Servotech Renewable Power System’s Managing Director, Raman Bhatia, said the investment aligns with the company’s long-term growth plans and supports its ambition to significantly scale renewable energy manufacturing capabilities.
The expansion is expected to contribute to Servotech’s target of achieving ₹1,500 crore in revenue by FY2027, while strengthening its operational footprint across India’s rapidly growing clean energy market.
The company believes Haryana’s business-friendly policies and growing industrial ecosystem make it an attractive destination for future investments.
Growing Demand for EV Charging and Energy Storage Solutions
India’s clean energy sector is witnessing rapid growth driven by government incentives, increasing electric vehicle adoption, renewable energy deployment, and growing demand for energy storage systems.
Industry analysts expect significant investments in EV charging infrastructure, battery manufacturing, and power electronics over the coming decade as the country works toward its net-zero and energy security goals.
Companies with integrated capabilities across renewable energy technologies and EV infrastructure are expected to benefit from these emerging opportunities.
About Servotech Renewable Power System
Servotech Renewable Power System Ltd., formerly known as Servotech Power Systems Ltd., is a publicly listed company specializing in technology-driven EV charging and renewable energy solutions.
The company offers a diversified portfolio that includes:
- DC fast EV chargers
- Solar inverters
- Battery Energy Storage Systems (BESS)
- Lithium-ion battery packs
- Power management and renewable energy solutions
With more than two decades of experience in the electronics and energy sectors, Servotech has established a nationwide presence and plays an active role in supporting India’s renewable energy and electric mobility ecosystem.
Outlook
Servotech’s proposed ₹400 crore investment highlights the growing momentum behind India’s clean energy manufacturing sector.
As demand for EV charging infrastructure, battery storage solutions, and renewable energy technologies continues to rise, strategic investments in domestic manufacturing capacity are expected to play a crucial role in strengthening supply chains, creating jobs, and supporting India’s transition toward a sustainable energy future.
The partnership between Servotech and the Government of Haryana represents another step toward building a robust clean technology manufacturing ecosystem while reinforcing the state’s position as an emerging hub for renewable energy innovation and industrial growth.
