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Saatvik Green Energy announced a major INR 3,150 crore investment to expand its Odisha solar manufacturing facility, aiming to strengthen its position in India's solar sector. The first phase will include 4 GW module capacity and 2.4 GW cell capacity, followed by a second phase adding another 2.4 GW. The company plans to integrate upstream and downstream operations and diversify into solar inverters, EPC services, and related offerings. Recent operational performance shows 685 MW module production at over 81% capacity and an order book of 4.05 GW.
Saatvik Green Energy has unveiled a capital expenditure plan of INR 3,150 crore for developing its Odisha facility focused on solar cell and module production. The company's CEO, Prashant Mathur, indicated that the investment is aimed at expanding production capacity to maintain market share amid rapid industry growth and to strengthen its position in India's solar manufacturing landscape. Advertisement
The project will be implemented in two phases. The first phase will feature 4 GW of module capacity and 2.4 GW of cell capacity, with an allocated capex of INR 550 crore for modules and INR 1,300 crore for cells. The second phase will add another 2.4 GW, supported by an additional INR 1,300 crore investment, bringing the total expenditure to INR 3,150 crore.
Mathur highlighted that this move aligns with Saatvik's strategy to enhance its manufacturing capabilities and position itself as a fully integrated renewable energy company. Beyond solar modules and cells, the company is pursuing diversification into solar inverters, EPC services, and ancillary offerings, aiming to build a comprehensive clean energy ecosystem within India.
The company intends to integrate operations from wafer inputs to module assembly and inverter solutions, focusing on domestic manufacturing. Mathur observed that the solar industry is increasingly moving toward backward integration, and the Odisha project is designed to capitalize on this trend while meeting growing domestic demand.
Currently, retail exposure accounts for approximately 10-15% of Saatvik Green's business, with plans to expand assembly and value-added operations locally. The company reported strong operational performance in the first quarter of FY26, producing 685 MW of modules at 81.47% capacity utilization and maintaining a robust order book of 4.05 GW.
Saatvik Green continues to focus on scaling manufacturing, enhancing operational efficiencies, and broadening its product and service portfolio to become a comprehensive renewable energy solutions provider. The company, already an integrated solar-energy solutions provider, manufactures high-efficiency PV modules and offers EPC services for utility-scale, commercial, and industrial projects.
As of mid-2025, Saatvik Green operates a module capacity of 3.8 GW and is adding 1 GW at its Ambala facility in Haryana. In addition, the Odisha greenfield project will introduce 4 GW of module capacity and 4.8 GW of solar cells, further consolidating its footprint in India's renewable energy sector.
Source PTI
5th Jun, 2025
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