Saatvik Green Energy Invests Rs. 3,150 Crore in Odisha Solar Manufacturing Facility

Saatvik Green Energy Limited has announced a major investment of Rs. 3,150 crore to expand its solar manufacturing facility in Ganjam district, Odisha. The move highlights the company’s commitment to strengthening domestic solar production and supporting India’s ambitious renewable energy goals.

The expansion will take place in two phases. Phase 1 involves setting up a 4 GW module capacity and a 2.4 GW solar cell capacity, with investments of Rs. 550 crore for the modules and Rs. 1,300 crore for the cells. Phase 2 will add another 2.4 GW capacity, bringing the total investment to Rs. 3,150 crore. The facility is located within Tata Steel’s Special Economic Zone in Gopalpur and spans 57 acres.

CEO Prashant Mathur explained that the expansion is designed to meet the growing domestic demand for solar energy components while strengthening Saatvik’s position in the Indian solar manufacturing sector. He also noted that the company plans to diversify into solar inverters, engineering, procurement, and construction (EPC) services, and other related offerings. The project aligns with India’s renewable energy target of achieving 500 GW of non-fossil fuel capacity by 2030.

The Odisha facility is expected to help India reduce its dependence on imported solar equipment, especially given the increasing demand for domestically manufactured solar cells and modules. This is a timely move as India continues to push for self-reliance in renewable energy manufacturing and aims to become a global hub for solar production.

Saatvik Green Energy has already demonstrated strong operational performance. In the first quarter of FY26, the company’s module production reached 685 MW, achieving an 81.47% capacity utilization rate. Moreover, the company currently holds a robust order book of 4.05 GW, reflecting steady demand and investor confidence.

The Odisha expansion will allow Saatvik to operate as a fully integrated renewable energy solutions provider. By manufacturing solar cells and modules domestically, the company can ensure better quality control, shorter lead times, and more competitive pricing. Additionally, the inclusion of inverters and EPC services will provide customers with end-to-end solutions for solar energy projects.

The project is also expected to create significant employment opportunities in the region. By building advanced solar manufacturing infrastructure and developing skilled manpower, the initiative will contribute to local economic development alongside national renewable energy goals.

With this investment, Saatvik Green Energy is positioning itself at the forefront of India’s solar manufacturing industry. The expansion reflects a broader trend among Indian companies to invest heavily in domestic solar production, reduce reliance on imports, and support the country’s transition to clean energy.

As the demand for renewable energy grows globally, such investments are crucial for ensuring India remains competitive in the solar manufacturing sector. By combining capacity expansion, diversification of services, and operational efficiency, Saatvik Green Energy is poised to play a key role in India’s renewable energy future.