Eyeing a sixfold boost in production, Servotech is set to enter the solar panel manufacturing sector with the 27% acquisition of Rhine.
Servotech Renewable Power System Ltd has acquired a 27% post-money stake in Rhine Solar Ltd, a solar PV module manufacturer approved under India’s approved list of models and manufacturers (ALMM) framework.
According to the company, the move signals Servotech’s formal entry into solar panel manufacturing and aims to expand its clean energy capabilities.
Rhine Solar, headquartered in New Delhi, currently operates with a production capacity of 100MW. Under the new partnership, Servotech plans to scale this to 600MW by 2026.
“This acquisition is a major leap forward for us as we move toward becoming a fully integrated solar solutions provider,” said Raman Bhatia, Managing Director, Servotech. “With this partnership, we are not just investing in capacity, we are investing in India’s clean energy future.”
Furthermore, Servotech will utilise Rhine Solar’s existing infrastructure to manufacture advanced N-type TOPCon 12-busbar solar panels. These high-efficiency modules are increasingly in demand due to their durability and performance in diverse environments.
“We aim to contribute meaningfully to the government’s ambitious clean energy targets and the ‘Make in India’ vision,” Bhatia added.
The acquisition also strengthens Servotech’s supply chain, ensuring control over component quality and delivery. The company stated that the integration is expected to drive cost efficiencies and enhance product offerings in both the solar and electric vehicle (EV) charging segments.
