Saatvik Solar to Build 3.6GW Solar Cell Plant in Odisha

Saatvik Solar, a unit of Saatvik Green Energy Limited, signed a memorandum of understanding with the Industrial Promotion and Investment Corporation of Odisha to construct a 3.6GW solar PV cell manufacturing facility in Gopalpur, Ganjam district. This Phase II expansion aims for commercial production by FY28.

The project builds upon Phase I at the same site, which consists of 2.4GW of cell and 4GW of module capacity. Phase I is currently in the final stages of commissioning, with a 220kV substation ready for charging and an ALMM-II inspection scheduled for September. The company further announced a Phase III expansion by FY29 to add 6GW of ingot and wafer capacity.

While the company operates a 4.8GW module plant in Ambala, Haryana, and reported a 44% year-on-year revenue decline for Q1 FY27, its order book remains at 6.35GW. CEO Prashant Mathur stated that the Odisha project is a statement of the company's ambition and part of a vision where India becomes a global manufacturing powerhouse for clean energy.