Servotech Power bags 4.1MW Solar Rooftop Project from UPNEDA; stock spurts ~5%

7 Sept 2022 , 09:21 AM

The Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA) has awarded Servotech Power Systems a large-scale, state-spanning grid-interactive rooftop solar power plant project.

The project entails the construction of 4.1 MW of solar power plants around the state. The overall contract value of the entire project is around Rs23.50 crore, and it will be finished within 4 months of the deal being received.

The project sites in Uttar Pradesh will encompass secondary school buildings in various locations around the state as part of the UP government's Samagra Shiksha Abhiyan.

This programme aims to integrate vocational education with general academic education in order to develop educated, employable, and competitive human resources for diverse economic sectors and the global market.

The major reasons for granting this work were Servotech’s strong technical capabilities, competitive price, and the size and ability to accomplish this project on time.

This significant project was awarded to Servotech in large part because of its exceptional track record of project delivery and strong solar rooftop capabilities.

Servotech's scope of operations for this project would comprise the design, manufacturing, supply, construction, testing, and commissioning of rooftop solar systems across these sites.

This is one of the most high-profile grid-scale projects in the company’s 14 years of solar project experience.

At around 9.19 AM, Servotech Power was trading 4.96% higher at Rs118.40 against previous close of Rs112.80 on NSE.

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