Servotech Renewable Power System Limited has informed the Exchange regarding a press release dated Jun 20, 2025, titled "Servotech Renewable Power System Ltd. acquires 27% Stake in Rhine Solar Ltd., Bolstering Solar Manufacturing Capabilities".
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Servotech Renewable Power System Ltd. has signed a definitive agreement to acquire a 27% stake (on a post-money basis) in Rhine Solar Limited, a New Delhi-based ALMM-approved PV solar module manufacturer. Rhine Solar currently has a manufacturing capacity of 100 MW, with plans to scale up to 600 MW by next year. The deal gives Servotech direct entry into solar panel manufacturing, complementing its existing solar solutions and EV charging businesses, with a focus on advanced N-type TOPCon 12 busbar panels. Management says the move is aimed at becoming a fully integrated solar solutions provider, reducing import dependence, and supporting India's clean energy and Make in India goals. The transaction was disclosed to the exchanges under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements.
Strategically positive for Servotech shareholders as the company moves up the solar value chain into module manufacturing, but the 27% stake is a minority investment, so synergies and returns will depend on Rhine Solar's execution on its capacity expansion to 600 MW. No financial details or open offer implications were disclosed, which may prompt investor questions on valuation and funding.