Saatvik to Invest ₹3,150 Cr in Odisha Solar Facility

Saatvik Green Energy Limited (SGEL) announced on Thursday that it plans to invest ₹3,150 crore in a greenfield project located in Odisha, where the company intends to establish a facility with a capacity of 4 gigawatts (GW) for solar photovoltaic (PV) modules and 4.8 GW for cell production in phases.

SGEL specializes in the manufacturing of high-efficiency PV modules and provides engineering, procurement, and construction (EPC) services for utility-scale, commercial, and industrial projects. As of June 2025, the company operates a module capacity of approximately 3.8 GW and is in the process of adding an additional 1 GW capacity at its Ambala facility in Haryana.

Prashant Mathur, the CEO of SGEL, stated that the capacity expansion is essential for the company to maintain its market share. The new greenfield manufacturing facility in Odisha is designed to achieve this objective.

Also Read: Avaada to invest ₹36,000 Cr in Gujarat Green Energy

The initial phase of the project will include 4 GW of module capacity and 2.4 GW of cell capacity, with a module capital expenditure of ₹550 crore and a cell capital expenditure of ₹1,300 crore. The subsequent phase will contribute an additional 2.4 GW of capacity, backed by an extra investment of ₹1,300 crore, culminating in a total capital expenditure of ₹3,150 crore, he noted.

This strategy underscores Saatvik’s commitment to expanding its manufacturing capabilities while establishing itself as a fully integrated renewable energy enterprise.

The company aims to unify its upstream and downstream operations, encompassing everything from wafer inputs to module assembly and inverter solutions, with a strong emphasis on domestic manufacturing, as highlighted by Mathur.