Indian Railways have awarded new solar contracts of 16.31 crore to Servotech Renewable Power System Ltd. and this combined with projects by Indian Railways, make it gain strength in the fast-growing clean energy industry in India.
The last contracts consist of design, supply, installation, testing and commissioning of grid-connected systems of solar power systems in various locations of the railroads. Such projects are in line with the long-term goal of Indian Railways to minimize carbon emission and maximize an amount of renewable energy used in its overall power consumption.
The purchase of the order value of 16.31 crore creates a very big addition to the growing portfolio in solar projects of Servotech.
Scope and the Technical Detail of the Projects
The solar installations on rooftops and ground mounted solar systems shall be installed at sites of workshops and railway premises among other facilities. Servotech will also integrate the system, comply with the safety requirements and optimise the performance to have stable power generation.
After the solar plants are commissioned, they are likely to provide clean electricity that is reliable, reduce the electricity bills that the railways are paying, and decrease reliance on traditional sources of power.
Sponsoring the Net-Zero Vision of Indian Railways
Indian Railways has made challenging targets so as to realize net-zero emissions by the year 2030. The most crucial part of this strategy is on solar power, which will be installed in all stations, yards, offices, and manufacturing stations in the country.
Through collaborating with established players in the domestic market such as the services of the Servotech Renewable, the Railways expects to speed up the project implementation but at the same time guaranteeing quality and reliability of the system over long-term.
Giving Renewable Portfolio to Servotech
In the case of Servotech Renewable Power System Ltd., the new order goes a long way to make the company a reliable EPC and technology partner in the Indian solar landscape. It is one of those companies which has been continuously growing its presence in the government, institutional and commercial solar projects.
This deal is also effective to increase the visibility of revenue that the company experiences in the ongoing financial cycle and broaden its execution pipeline.
Federal Support to Local Solar Production and Employment
The projects will utilize high volume of locally produced components, which is in favor of the governmental initiatives of making in India and renewable manufacturing. The installations will also create employment locally during the implementation and servicing period.
Industry Outlook
The solar industry of India maintains a high power of momentum owing to the favour of the policies, decline of technology cost and the increase in institutional demand. The large public sector orders such as Indian Railways are considered as a major growing force on the renewable energy companies.
As the company has won an order of 16.31 crore, it means that Servotech Renewable Power System Ltd. will be poised to take advantage of India’s rapidly increasing shift towards clean, sustainable and rail-based energy-based solutions.
