Saatvik Solar Secures Rs 17.99 Cr Repeat Solar Modules Supply Order

Saatvik subsidiary Saatvik Solar Industries has received and accepted a repeat order worth Rs 17.99 crore from an Independent Power Producer (IPP) for the supply of solar PV modules. The order will be executed by the end of December 2025.

Prashant Mathur, Chief Executive Officer (CEO) of the solar module manufacturing company, highlighted the surge in the company’s order book during the Q1 2025 investor call. He explained that the recent additions include spot orders and retail distribution orders in small quantities, which account for about 25–30% of the current order book.The company has recorded significant growth in its order pipeline following its IPO. The company usually keeps these outside its order book figures.

Saatvik Green Energy, which started operations in 2016 with a modest 125 MW capacity, has rapidly scaled up to reach 3.8 GW of installed module manufacturing capacity as of June 2025. The company has added another 1 GW of capacity in Q2 FY26.

Solar Module Capacity Expansion

Over the years, the company has supplied more than 2.5 GW of modules, operating across the renewable energy value chain — including module manufacturing, EPC, and O&M services — gives Saatvik a strong competitive advantage in delivering end-to-end solar solutions.

Its product portfolio includes Mono PERC and N-TOPCon modules, available in both monofacial and bifacial configurations. These modules are engineered for higher efficiency, catering to residential, commercial, and utility-scale solar projects.

Saatvik currently operates three module manufacturing facilities in Ambala, Haryana, spanning 724,000 sq ft, making it one of the largest single-location solar manufacturing setups in India. 

To meet growing demand, the company has added another 1 GW of manufacturing capacity at Ambala, increasing total capacity to 4.8 GW. In addition, Saatvik is enhancing its capabilities through a fully integrated cell and module facility in Odisha — 4.8 GW cells and 4 GW modules — scheduled for commissioning by Q3 FY27 and FY26, respectively.