New Delhi: Servotech Renewable Power System Ltd has acquired a 27 percent stake in Rhine Solar Ltd, marking its formal entry into the photovoltaic (PV) module manufacturing space. The company announced the acquisition in a statement on Friday. Rhine Solar, a New Delhi-based firm, is an ALMM-approved solar PV module manufacturer with an existing production capacity of 100 MW. As part of the strategic investment, Servotech plans to help ramp up this capacity to 600 MW by next year.
Raman Bhatia, Managing Director of Servotech, said the acquisition aligns with the company’s ambition to become a fully integrated solar solutions provider. “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,” Bhatia said.
He added that the company will focus on manufacturing high-efficiency N-type TOPCon 12 busbar panels, which are in strong demand in both Indian and international markets due to their enhanced performance and durability.
The acquisition will allow Servotech to better control its supply chain, improve quality assurance, and deliver more competitive offerings. The integration is expected to create operational synergies, drive innovation, and support the government’s ‘Make in India’ and clean energy objectives.
“This move will significantly accelerate India’s solar manufacturing capabilities, reduce the nation’s import dependencies on solar components, and contribute meaningfully to the government’s ambitious clean energy targets,” Bhatia said.
The development complements Servotech’s existing solar and EV charging portfolio, reinforcing its position as a diversified energy solutions provider. The company already offers a range of AC and DC EV chargers and is working to expand its footprint in India’s growing EV infrastructure segment.