Servotech Signs INR 400 Cr MoU with Haryana Govt to Expand RE Manufacturing Capacity
Servotech Renewable Power System has signed an MoU with the Haryana Government to invest around INR 400 crore over the next 24–36 months to expand its manufacturing and warehousing capacity for EV chargers, solar products, battery packs, BESS and power electronics in the state.
June 03, 2026. By Mrinmoy Dey
The MoU was signed in the presence of Chief Minister of Haryana Nayab Singh Saini at the official launch of the ‘Make in Haryana’ Industrial Policy 2026, held in Gurugram on June 1, 2026. The launch event also unveiled a compendium of nine sectoral policies aimed at positioning Haryana as a preferred destination for industrial and clean-energy investments.
Commenting on the development, Raman Bhatia, Managing Director, Servotech Renewable Power System, said, “We are delighted to partner with the Government of Haryana. Haryana has emerged as one of India’s most progressive investment destinations, and the launch of the Make in Haryana Industrial Policy 2026 reinforces the state’s commitment to industrial growth, clean-energy manufacturing and innovation.”
He further added, “Our proposed INR 400 crore investment aligns with Servotech’s long-term vision of scaling renewable energy manufacturing capabilities and is a meaningful step towards our stated ambition of reaching INR 1,500 crore in revenue by FY 2027. We believe this collaboration will strengthen our operational footprint and contribute to Haryana’s clean-energy ambitions and broader economic development.”
Under the agreement, Servotech Renewable and HEPC will establish a framework for collaboration and cooperation to facilitate the company’s proposed expansion plans in Haryana. The project is expected to attract an investment of approximately INR 400 crore and generate around 500 employment opportunities, contributing to the state’s industrial and economic growth, stated Servotech.
It further added that the proposed investment will be deployed in a phased manner over the next 24 to 36 months and will support the expansion of Servotech’s manufacturing capacity across EV chargers, solar products, Battery Packs, BESS and Power electronics, sectors identified as thrust areas under the Make in Haryana Industrial Policy 2026. The expansion is intended to scale production capacity, improve operational efficiencies, deepen import substitution, and strengthen the Company’s ability to serve growing domestic and export demand. Specific site selection within Haryana is under evaluation.
As part of the MoU, the Haryana Government, through HEPC, has committed to providing facilitation support and ease-of-doing-business assistance for the successful implementation of the proposed investment.
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