Servotech Renewable Power System Ltd. has entered into a definitive agreement to acquire a 27 per cent post-money stake in Rhine Solar Ltd., a PV module manufacturing company approved under the Approved List of Models and Manufacturers (ALMM). The acquisition marks Servotech’s entry into solar panel production and forms part of its broader plan to scale operations within India’s renewable energy sector.
Rhine Solar, based in New Delhi, currently operates a 100 MW solar module manufacturing facility. Following the investment, both companies plan to increase this capacity to 600 MW over the next year to meet growing domestic and international demand for solar panels.
Strategic move into module manufacturing Raman Bhatia, MD of Servotech Renewable Power System, said, “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."
Company’s 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, it aims to significantly accelerate India’s solar manufacturing capabilities, reduce the nation’s import dependencies on solar components.
The company expects the partnership to strengthen its supply chain and improve control over product quality. The integration of Rhine Solar’s manufacturing capabilities is expected to support Servotech’s solar and EV charging offerings by adding upstream capacity and enabling cost effective production.
