Saatvik Solar Industries Private Limited, a leading Indian solar PV module manufacturer, is proud to announce that it has received and accepted significant purchase orders amounting to INR 219.62 Crores from three renowned Independent Power Producers (IPPs) and EPC companies for the supply of high-efficiency solar photovoltaic (PV) modules.
This large-scale procurement underscores Saatvik Solar’s growing reputation as a trusted and high-quality module supplier in the renewable energy sector, further cementing its position as a key contributor to India’s clean energy transition.
The orders will involve the delivery of state-of-the-art, high-wattage PV modules with advanced technologies, tailored to meet the specific project requirements of the respective IPPs/EPCs. The modules will be deployed across multiple utility-scale solar projects in India, contributing significantly to the nation’s green energy targets.
With a rapidly expanding manufacturing capacity and a firm focus on innovation and sustainability, Saatvik Solar continues to support large-scale solar installations both in India and globally. This achievement marks another major step toward its vision of empowering a cleaner and greener future through solar energy.
Saatvik Solar (also operating under Saatvik Green Energy) is an Indian renewable energy company focused on solar photovoltaic (PV) module manufacturing and solar technology solutions. Headquartered in Gurugram, Haryana, it produces high-efficiency solar modules including Mono PERC, bifacial and N-TOPCon technologies.
The company is significantly scaling up its manufacturing capacity. It is developing a facility in Odisha with a targeted 4.8 GW solar cell and 4 GW module capacity. In addition, Saatvik already operates with an annual module production capacity of about 3.8 GW. To fund its expansion, it is actively engaging with international lenders and financial institutions, reportedly in talks with organizations like Proparco and the Asian Development Bank for financing of roughly ₹22 billion.
In 2025, Saatvik Green Energy launched a ₹900 crore IPO, aiming to raise funds for capacity expansion, debt repayment, and general corporate use. A notable portion of the proceeds is allocated to its subsidiary, Saatvik Solar Industries, to build its Odisha module plant. The solar sector in India benefits from strong government support and ambitious clean energy targets, creating a favorable growth environment for companies like Saatvik. However, the company also faces challenges including reliance on raw material imports, execution risks in scaling manufacturing, and competitive pressures in the PV industry.
