MoneyWorks4Me

Servotech Power Systems gets LoI for major Off-Grid Solar Project from UPNEDA

29 Sep 2022 Evaluate

Servotech Power Systems has received Letter of Intent (LoI) from Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA) for a major 1.8 MW off-grid solar project, installing solar-powered modules of different capacities across the state. The total contract value of the entire project is approximately Rs 30 crore.

The project will see the company’s key responsibilities such as undertaking empanelling & rate contracts for designing, manufacturing, supply, erection, testing and commissioning of off-grid solar plants throughout Uttar Pradesh. Further, the scope of the project also encompasses the deliver comprehensive warranty maintenance for the next 5 years, tending to different 1-10 kW and 11-50 kW off-grid solar PV installations done at various strategic locations in the state of Uttar Pradesh.

This is the second key project in line that the company has acquired from UPNEDA after bagging another crucial 4.1 MW grid-interactive rooftop solar power plant project from the authority earlier this month. The major criteria for awarding this job were the company’s strong technical stronghold, competitive price, and size and strength to execute the project on time. Owing in the major part to The company’s strong solar rooftop capabilities and great track record of project delivery, they were frontrunners in landing this significant project.

Servotech Power Systems is engaged in manufactures and sells inverters, uninterruptible power source products, and servo stabilizers under the SERVOTECH brand name in India, south-east Asia, Africa, Europe, and the Middle East.

Peers
Company Name CMP
Waaree Energies 2421.75
Apar Industries 18080.00
Havells India 1066.00
Suzlon Energy 38.75
Siemens 3820.00
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