Homegrown renewable energy firm bags solar project from Railway Energy Management Company - Check details
Earlier, the company secured a rooftop solar project worth around Rs 74 crore under the PM Surya Ghar: Muft Bijli Yojana.
Servotech Renewable Power System has secured a Rs 16.31 crore ground mounted and rooftop on-grid solar project by Railway Energy Management Company Limited (REMCL), a Joint Venture of RITES Ltd. and Ministry of Railways. As part of the contract, Servotech Renewable will undertake the design, engineering, supply, installation, testing, and commissioning of both ground-mounted and rooftop solar power plants of multiple capacities, at the Dedicated Freight Corridor Corporation of India Limited (DFCCIL) Complex in Noida.
"These solar installations will significantly support REMCL and DFCCIL’s goal of integrating renewable energy into core operational infrastructure, reducing dependence on conventional power sources, optimising energy costs, and advancing India’s mission toward clean and sustainable industrial growth," the company said in an exchange filing.
Earlier, the company secured a rooftop solar project worth around Rs 74 crore under the PM Surya Ghar: Muft Bijli Yojana.
The project has been awarded by the New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP), Servotech said in a statement.
"Under this mandate, Servotech Renewable will conduct design, engineering, supply, installation, testing, and commissioning of rooftop solar plants in varying capacities for 5,886 scheduled caste (SC) and scheduled Tribe (ST) households," the company stated.
The project will be implemented through a utility-led aggregation model and includes 5 years of comprehensive operation and maintenance (O&M).
Sarika Bhatia, the company's Whole-Time Director, said, "We...have (got an) opportunity to work with NREDCAP on a project that brings solar energy directly to thousands of consumers from the community.
The order reflects commitment to advancing inclusive clean energy growth and demonstrates our ability to execute large-scale distributed solar deployments with precision and quality".
The PM Surya Ghar: Muft Bijli Yojana is the world's largest domestic rooftop solar initiative, transforming India's energy landscape with a bold vision to supply solar power to one crore households by March 2027.
Meanwhile, the counter ended the trading session in the red at Rs 96.05 with a fall of 1.51 per cent from the previous close of Rs 97.52. The market cap of the company stood at Rs 2,169.24 crore.