Servotech Power Systems share witnesses a strong rally of 10% on 1.2 MW solar energy order

In today’s session, shares of Servotech Power Systems, a major EV charger manufacturer in India, increased 10.3% to a new all-time high of Rs 132.34. The rise came after the company announced that it had secured an order for about 1.2 MW of solar storage and grid-connected systems.

The company informed investors in today’s exchange filing that it received orders totalling 1.2 MW, or around ₹10.20 crore, for the installation of grid-connected systems and solar energy storage. The order has been acquired from the UPNEDA.

Servotech will set up various 75-kW solar-based energy storage systems across Uttar Pradesh to provide a consistent and uninterrupted power supply. To help the state meet its renewable energy targets, the company will also be creating, manufacturing,  supplying, erecting, testing, and commissioning grid-connected solar power systems with capacities of 20 kW and 40 kW.

As of 3:13 pm, Servotech Power Systems shares were trading 10.00% higher at Rs 132.34 on the NSE.

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