Saatvik Green's Ambitious Solar Leap: Rs 3,150 Crore Boost in Odisha

Saatvik Green Energy announced a capital expenditure of Rs 3,150 crore to expand its Odisha facility, aiming to enhance its solar cells and modules production capacity. CEO Prashant Mathur highlighted the strategic investment as a move to strengthen the company's position in India's renewable energy sector.

Saatvik Green Energy has revealed a massive capital expenditure plan amounting to Rs 3,150 crore, targeted at the expansion of its Odisha facility for solar cells and modules production.

According to CEO Prashant Mathur, this investment will expand Saatvik's production capacity to secure their market share amid the rapidly growing solar industry. The strategic move is aimed at cementing Saatvik as a leading integrated renewable energy firm in India.

The Odisha project will be completed in two phases. The first phase will introduce 4 GW module and 2.4 GW cell capacities, costing Rs 550 crore and Rs 1,300 crore respectively. The second phase will boost capacity by an additional 2.4 GW with another Rs 1,300 crore investment. Saatvik is also diversifying with products like solar inverters and EPC services, and plans to enhance local manufacturing operations.

(With inputs from agencies.)