Saatvik Green Energy announces Rs 3,150 cr capex for Odisha facility

New Delhi, Oct 9 (PTI) Saatvik Green Energy on Thursday announced a Rs 3,150 crore capital expenditure plan for development of its Odisha facility for producing solar cells and modules.

Taking to PTI, Prashant Mathur, CEO, Saatvik Green Energy said,"The investment is aimed at expanding production capacity to help the company maintain its current market share amid rapid industry expansion and to further consolidate its position in India’s solar manufacturing landscape." He informed that Saatvik Green has major capex plan of Rs 3,150 crore for the development of its Odisha facility.

The first phase of the project will feature 4 GW of module capacity and 2.4 GW of cell capacity, with a module capex of Rs 550 crore and cell capex of Rs 1,300 crore.

The second phase will add another 2.4 GW of capacity, supported by an additional Rs 1,300 crore investment, bringing the total capex to Rs 3,150 crore.

He stated that the move reflects Saatvik’s strategy to supercharge its manufacturing capabilities while positioning itself as a fully integrated renewable energy company.

Beyond solar modules and cells, the company is pursuing product diversification, including solar inverters, EPC services, and ancillary offerings, to build a complete clean energy ecosystem in India, he added.

The company aims to integrate upstream and downstream operations, from wafer inputs to module assembly and inverter solutions, with a focus on manufacturing within India.

He stated that the solar industry is moving toward backward integration, and the Odisha project is designed to leverage this trend while addressing the domestic market’s growing demand.

He noted that retail exposure remains modest, around 10–15 per cent of overall business, with plans to expand assembly and value-added operations locally.

Supporting its growth trajectory, Saatvik Green reported strong operational performance in Q1 FY26, with 685 MW of module production at 81.47 per cent capacity utilization and a robust order book of 4.05 GW.

The company continues to focus on scaling manufacturing, improving operational efficiencies, and expanding its product and service offerings to establish itself as a comprehensive renewable energy solutions provider, he stated.

Saatvik Green Energy Limited is an integrated solar-energy solutions provider engaged in the manufacturing of high-efficiency PV modules and EPC services for utility-scale, commercial, and industrial projects.

As of June 30, 2025, the company operates a module capacity of 3.8 GW and is adding 1 GW additional capacity at Ambala, Haryana.

Additionally, the company is undertaking a greenfield project in Odisha for 4 GW of module and 4.8 GW of solar cells. PTI KKS 1.0.0 ANU ANU