In the north, India's journey towards local production of green energy has made significant strides. Solar energy and electric vehicle (EV) charging technology major Servotech Power Systems has inked an official deal with the government of Haryana. The company is investing about Rs 400 crore in establishing new, technologically advanced manufacturing units and storage centres throughout the state. It's a significant investment and a great sign of the groundswell of demand for sustainable tech in the region. 

The agreement was inked at a recent industrial meet in Gurugram, coinciding with the state's recent push to bring in cutting-edge businesses. It's a good time to be Servotech. The company has decided to establish its business in a place that is actively promoting the development of green technology, allowing it to rapidly expand its production lines to keep up with the huge influx of EVs on the road by 2030. 

This Rs 400 crore investment is planned to be implemented in two to three years. The primary objective is to ramp up the production of EV fast-chargers, solar power and lithium-ion battery packs on a massive scale here in India. The team is continuing to search for the most suitable specific sites for the new factories, but they are also closely monitoring regions that offer excellent highway access to enable them to deliver heavy equipment to customers with minimal delays. 

This project will provide approximately 500 new jobs for local families, in addition to the machinery and factory walls. The jobs won't be simple assembly line jobs, either: there will be skilled technicians, electrical engineers, and quality control specialists required at the plants. Producing them locally also helps to safeguard the business from the unpredictable shipping costs and international supply chain issues that have bedevilled the green tech industry over the past few years. 

It's a very smart business move to select Haryana as the home base of this expansion. The state already has a huge market for the Indian automotive sector, making it easier for Servotech to work with car manufacturers on new charging technologies. The company can also reduce its shipping expenses and get large orders to government transit agencies and private fleet operators much quicker than they were previously able to. 

The decision has been made clear by company management that this decision is solely to reduce the importation of parts and to secure a dominant market share of the domestic EV charging market. This growth is their primary driver to grow and achieve a revenue target of 1,500 crore by FY27. 

To keep the construction on schedule, the state government has promised to smooth out the paperwork through a single-window clearance system. This will allow the company to avoid the normal land zoning, environmental and high electricity connection procedures. This partnership will be an excellent example of how local government support can spur private investment to meet clean energy objectives as these new facilities are being built in the coming months.