Servotech shares gain over 3% as frim bags 5.6 MW On-grid rooftop solar power project from UREDA

Servotech shares gain 4% as frim bags 5.6 MW On-grid rooftop solar power project from UREDA

Servotech Power Systems Ltd saw its share price climb over 4 percent on securing a 5.6 MW On-grid rooftop solar power plant order from the Uttarakhand New and Renewable Energy Development Agency (UREDA).

The company’s stock rose 4.2 percent to hit an intraday high of Rs 184 per share.

Valued at Rs 30.2 crore, the order is a significant step toward transforming Uttarakhand into a solar-powered state, aligning with India's broader push for renewable energy, the company stated.

Additionally, the project includes a comprehensive five-year warranty and maintenance service. The installations, ranging from 1 kW to 1,500 kW, will be carried out at strategic locations such as government offices, educational institutions, hospitals, and other facilities across the state. These efforts aim to support Uttarakhand’s renewable energy goals and contribute to decarbonisation.

Commenting on the development, Sarika Bhatia, Director, Servotech Power Systems, said, "We are confident that our reliable solar solutions will empower Uttarakhand with clean, reliable, and affordable solar energy. This project aligns with our vision of a sustainable future and will contribute to the state's energy security and environmental goals."

(PTI Inputs)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.