Saatvik Green Energy Secures ₹700 Crore Repeat Orders for Solar Modules

Saatvik Green Energy, a solar module maker, recently confirmed an order worth more than ₹700 crore to deliver solar PV modules to key players in the Indian renewable energy market.

In a press release, the company explained that Saatvik Green Energy and Saatvik Solar Industries have secured a repeat supply order for solar PV modules worth ₹707.62 crore from top-tier Indian EPC and IPP companies.

The parent firm, Saatvik Green Energy Ltd., received orders worth ₹488 crore, while its material subsidiary, Saatvik Solar Industries Pvt. Ltd., received additional contracts worth ₹219.62 crore. All orders are scheduled for delivery in FY 2025–26 and come from EPCs and IPPs that have previously worked with the Saatvik brand, reflecting their long-term trust in the company. News pf the order helped the firm's recently listed stock price jump up back above its IPO price of Rs 465. The shares were last traded at Rs 550 at the NSE.

Driving India's Solar Goals

Prashant Mathur, CEO of Saatvik Green Energy Limited, remarked, "These wins are a strong vote of confidence in Indian manufacturing. At Saatvik, we want to help India have a clean energy future by providing reliable, high-quality solar solutions. These orders strengthen our developing partnerships with premier EPCs and IPPs who believe in our technology, size, and dependability.” 

Building on this momentum, earlier this year, Saatvik Solar Industries Private Limited (SSIPL), a subsidiary of Saatvik Green Energy Limited (SGEL), hosted a ceremony to support its upcoming 4 GW solar PV module manufacturing facility on June 5.

The plant is being set up on land sub-leased from Tata Steel Special Economic Zone Limited (TSSEZL) out of a total 57 acres located on National Highway – 16, at Ganjam, Ganjam, Odisha. The project marks one of a series of solar initiatives planned in Odisha, spanning modules to ingots. A key factor has been the ready and dependable availability of power in the state, alongside access to ports and other infrastructure.