Dr. Mohanty has been serving as Director (Finance) since October 2023 and as Chief Financial Officer of IREDA shortly thereafter. With over 27 years of experience in the renewable energy and power sectors, he has held key positions at IREDA, REC Limited, REC Power Development and Consultancy Limited (RECPDCL), CESCO, and GRIDCO. A highly qualified finance professional, he holds multiple postgraduate degrees, a law degree, and a Ph.D. in Commerce, and is widely recognised for his expertise in project financing, renewable energy, and power sector development.

During the same high-profile event, Shri Jitendra Srivastava also participated in the official launch of the brand-new logo for the PM-Surya Ghar Muft Bijli Yojana. This new logo is set to serve as the official visual identity of the central scheme, which is dedicated to bringing clean solar energy into millions of Indian households. By scaling up eco-friendly installations across the country, the ongoing mission focuses on securing sustainable, cost-effective, and affordable electricity access for residents nationwide.

To hear more about the company’s strategic financial and execution vision for clean energy projects, you can watch this [Keynote Address by Jitendra Srivastava, CMD of REC Limited](https://www.youtube.com/watch?v=WJUdv2ZutlI) on YouTube.

The MoU was signed in the presence of Hon’ble Chief Minister of Haryana Shri Nayab Singh Saini at the official launch of the ‘Make in Haryana’ Industrial Policy 2026, held in Gurugram on 1st June 2026. The launch event also unveiled a compendium of nine sectoral policies aimed at positioning Haryana as a preferred destination for industrial and clean-energy investments.

Under the agreement, Servotech Renewable and HEPC will establish a framework for collaboration and cooperation to facilitate the company’s proposed expansion plans in Haryana. The project is expected to attract an investment of approximately ₹400 crore and generate around 500 employment opportunities, contributing to the state’s industrial and economic growth.

The proposed investment will be deployed in a phased manner over the next 24 to 36 months and will support the expansion of Servotech’s manufacturing capacity across EV chargers, solar products, Battery Packs, BESS and Power electronics, sectors identified as thrust areas under the Make in Haryana Industrial Policy 2026. The expansion is intended to scale production capacity, improve operational efficiencies, deepen import substitution, and strengthen the Company’s ability to serve growing domestic and export demand. Specific site selection within Haryana is under evaluation.

As part of the MoU, the Haryana Government, through HEPC, has committed to providing facilitation support and ease-of-doing-business assistance for the successful implementation of the proposed investment. The collaboration reflects the shared objective of accelerating industrial development, promoting clean energy manufacturing, and strengthening Haryana’s position as a hub for sustainable growth and innovation.

Commenting on the development, Raman Bhatia, Managing Director, Servotech Renewable Power System Ltd., said, “We are delighted to partner with the Government of Haryana. Haryana has emerged as one of India’s most progressive investment destinations, and the launch of the Make in Haryana Industrial Policy 2026 reinforces the state’s commitment to industrial growth, clean-energy manufacturing and innovation. Our proposed ₹400 crore investment aligns with Servotech’s long-term vision of scaling renewable energy manufacturing capabilities and is a meaningful step towards our stated ambition of reaching ₹1,500 crore in revenue by FY 2027. We believe this collaboration will strengthen our operational footprint and contribute to Haryana’s clean-energy ambitions and broader economic development.”