Saatvik Green Energy Powers Ahead with New Battery Tech Subsidiary

Saatvik Green Energy has launched a subsidiary, Saatvik Power Storage Solutions, to focus on battery technologies and energy storage. Aiming at a 20 GW capacity over five years, this move will enhance grid stability and renewable integration. With authorized capital of Rs 10 lakh, the subsidiary strengthens Saatvik's market presence.

Saatvik Green Energy is set to expand its footprint in energy solutions by incorporating a wholly-owned subsidiary. Named Saatvik Power Storage Solutions, the new entity is tasked with advancing battery technologies and energy storage systems.

The subsidiary plans to target 20 GW of energy storage capacity over the next five years, aiming to bolster grid stability and facilitate the integration of renewable energy across significant markets, according to a company exchange filing.

Saatvik Green Energy, which already operates a 4.8 GW module manufacturing facility in Ambala, Haryana, has established its subsidiary with an authorized capital of Rs 10,00,000. All shares are held by the parent company, marking this a strategic move to strengthen their hold in the renewable energy sector.

(With inputs from agencies.)