Mumbai, June 2 -- Servotech Renewable Power System has signed a Memorandum of Understanding (MoU) with the Haryana Enterprises Promotion Centre (HEPC), Department of Industries & Commerce, Government of Haryana. The agreement outlines a proposed investment of approximately INR 4 billion to expand its manufacturing and warehousing operations within the state.

The proposed CAPEX will be deployed in a phased manner over the next 24 to 36 months. The expansion targets several clean-technology and power segments that have been identified as core thrust areas under the state's new industrial policy.

The investment will scale Servotech's manufacturing capacity across electric vehicle (EV) chargers, solar products, battery packs, Battery Energy...