Saatvik Solar Launches New Inverter Line, Eyes Ingot, Wafer Plant From Odisha/MP

Indian solar module maker Saatvik Solar has launched a new range of grid-tied inverters for residential and small commercial and industrial (C&I) users, as part of its plan to expand its product portfolio and manufacturing footprint. The new inverter ranges from 1 Kw-50 kW, especially crafted for rooftop solar connections and to cater to the rising connections under the PM Surya Ghar scheme. 

“We are launching grid-tied inverters specially for residential and small C&I consumers,” Prashant Mathur, Chief Executive Officer (CEO) of Saatvik Solar told Saur Energy. “These are single-phase and three-phase inverters with up to 150% loading capacity, IP65 protection, and highly efficient MPPT performance. We will continue to bring more products to consumers.”

The company is already into the production of encapsulants, EVA and Aluminium frames. With the launch of solar inverters, Saatvik Solar has joined the league of big solar module and cell makers, which have also forayed into the business of solar inverters to ensure single point solutions for multiple solar products for the consumers. Earlier, companies like Premier Energies and Waaree Energies had added this vertical to their segment to broaden their offerings. 

Mathur said the company, which was listed on the stock exchange a month ago, will use the public funds to accelerate growth and integration. “Going public gives us more responsibility and capital to fund our growth. It allows us to move forward with both forward and backward integration,” he said.

Manufacturing Capacity

Saatvik currently has a manufacturing capacity of 4.8 GW solar module capacity and is based in Ambala, Haryana. The company is planning further expansion in Odisha, where it aims to build an integrated solar manufacturing ecosystem with 4.8 GW of solar cell line and 4 GW of solar module line.

“Our future growth will involve backward integration into ingots and wafers,” Mathur said. “We are exploring options in Odisha and Madhya Pradesh. Both states offer supportive policies, but Odisha provides an established ecosystem, water availability, subsidised electricity, and capital incentives.”

Saatvik expects to commission its module production line in Odisha by the end of this financial year, followed by its 2.4 GW solar cell line by mid-next year, which will be expanded further within six months.

ALMM On Solar Cells 

Mathur added that the government’s Approved List of Models and Manufacturers (ALMM) initiative reflects its commitment to building a robust domestic solar manufacturing base. “It gives us confidence to invest in the sector. These are positive steps towards creating a solar manufacturing hub in India,” he said.

On pricing trends, Mathur noted that solar component prices depend on multiple factors, including demand, supply, and raw material costs. “Prices are likely to remain at reasonable levels as solar continues to offer one of the lowest costs of energy,” he said.