Servotech Power Systems Join Hands With NSEFI For Delhi’s First Solar-Powered EV Charging Station

The National Solar Energy Federation of India (NSEFI), the country's premier solar organisation, and Servotech Power Systems announced on Friday that they will be working together to open Delhi's first grid-connected solar-powered EV charging station. This announcement caused the company's shares to rise in Friday's session. The installation of the Solar-Powered EV Charging Carport, a pilot project at the Hauz Khas Village parking station, is an important turning point in the infrastructure for electric vehicles and sustainable energy. The solar panels and EV chargers that were utilised to set up the carport were created, constructed, and installed by Servotech. Furthermore, Servotech has been in charge of organising and setting the carport's general infrastructure into place.

"The Solar-Powered EV Charging Carport was established under the KVP project framework. The KVP project is supported by the German non-profit company Sequa GmbH, as part of the Business Membership Organization Partnerships of the German Federal Ministry for Economic Cooperation and Development (BMZ). This PV Carport introduces a new business model for DISCOMs and business operators aiming to replace last-mile delivery vehicles with an electric fleet. The system enables fast charging for two and four-wheelers in under an hour, facilitating efficient delivery services in inner-city and confined spaces," said Servotech Power Systems in a statement.

Raman Bhatia, Founder and Managing director, Servotech Power Systems Ltd. said "We are thrilled to inaugurate Delhi's first solar powered EV charging carport along with NSEFI, marking a significant step towards sustainable urban mobility for a greener future. The newly inaugurated solar carport exemplifies our efforts to reduce carbon emissions and enhance living conditions through sustainable technology. This initiative will prove to be beneficial in decarbonizing mobility and electricity through solar energy. The growth of India's solar and energy storage sectors across various fronts is dynamic, and by integrating renewable energy solutions into our infrastructure, we not only address current environmental challenges but also pave the way for a cleaner, more sustainable future for all. Servotech stands for innovation and is committed to leading the charge in sustainable energy solutions, driving positive change for the environment and society."

In a recent meeting on Wednesday, July 3, 2024, the Nomination and Remuneration Committee of the Board of Directors of Servotech Power Systems approved the granting of 20,094 options under the ESOP Scheme 2022 to eligible employees of the company. These options will be converted to an equivalent number of equity shares of the company.

Servotech Power Systems is an NSE-listed company that uses more than 20 years of experience and knowledge in the electronics industry to provide tech-enabled EV charging solutions. It offers a wide variety of AC and DC chargers that work with various EVs and have several uses, including residential and commercial.