Servotech Signs ₹400 Crore MoU with Haryana to Boost Renewable Manufacturing
Servotech Renewable Power System Limited has signed a Memorandum of Understanding with the Haryana Enterprises Promotion Centre to invest approximately ₹400 crore in expanding manufacturing and warehousing operations in the state. The agreement, inked at the 'Make in Haryana' Industrial Policy 2026 launch on June 1, 2026, is expected to create around 500 direct and indirect jobs.
Servotech Renewable Power System Limited, listed on the NSE and recognised as one of India's leading manufacturers of solar and renewable energy solutions, has been scaling capacity to meet surging domestic and export demand for clean energy equipment. The company's decision to deepen its footprint in Haryana aligns with the state government's push to attract high-quality industrial investment in the clean technology segment under its newly unveiled 'Make in Haryana' Industrial Policy 2026.
The MoU was signed in the presence of Haryana Chief Minister Shri Nayab Singh Saini at an event in Gurugram that also unveiled nine sectoral policies aimed at positioning Haryana as a preferred industrial destination. The proposed ₹400 crore investment will fund manufacturing scale-up and warehousing infrastructure, reinforcing Servotech's domestic supply chain for solar panels and associated renewable energy products. The company's expansion is positioned to reduce import dependence for key clean energy components.
From an ESG standpoint, the investment carries meaningful positive implications. Expanding domestic renewable energy manufacturing capacity directly supports India's decarbonisation targets and the national push for energy self-sufficiency. The projected creation of approximately 500 direct and indirect employment opportunities adds a social dimension, contributing to local economic development in Haryana. Investors and analysts are likely to view the MoU as evidence of Servotech's long-term commitment to scaling clean energy production within India.
Key figure — ₹400 crore
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