Servotech Renewable Power System, a solar solutions and EV charger manufacturer, has entered into a definitive agreement to acquire a 27% stake in Rhine Solar, a PV Module manufacturing company for ₹12.15 crore.
By strategically leveraging Rhine Solar’s existing infrastructure, its invaluable ALMM-approved facility, and years of deep expertise in solar panel manufacturing, Servotech aims to establish large-scale solar panel production within India.
Currently, Rhine Solar boasts a manufacturing capacity of 100 MW, and the plan is to significantly escalate this capacity, aiming for an impressive 600 MW by next year.
Raman Bhatia, Managing Director of Servotech Renewable Power System, saidd, “This acquisition is a major leap forward for us as we move toward becoming a fully integrated solar solutions provider. We’ve now officially stepped into PV module manufacturing, and this is only the beginning. Our strategic entry into solar panel manufacturing is a testament to our commitment to sustainable growth and our vision of a greener future. A key focus will be on producing advanced N-type TOPCon 12 busbar panels, which are not only more efficient but also in high demand in both domestic and global markets due to their superior performance and durability. With this move, we aim to significantly accelerate India’s solar manufacturing capabilities, reduce the nation’s import dependencies on solar components, and contribute meaningfully to the government’s ambitious clean energy targets and the ‘Make in India’ vision.”
