Saatvik Green to invest Rs 31.5 billion in solar manufacturing expansion

Saatvik Green Energy Limited will invest Rs 31.5 billion to expand its solar manufacturing operations in Odisha. The expansion will be carried out in two phases and is aimed at strengthening the company’s domestic production capacity for solar modules and cells.

In the first phase, the company plans to establish 4 GW of module capacity and 2.4 GW of cell capacity with an investment of Rs 18.5 billion. The second phase will add another 2.4 GW of cell manufacturing capacity at a cost of Rs 13 billion.

Separately, Saatvik Green Energy announced its unaudited financial results for the first quarter (Q1) of the financial year (FY) 2025-26, ending June 30, 2025. The company reported revenue from operations of Rs 9.15 billion in Q1 FY 2025-26, representing a 272.28% year-on-year (YoY) increase from Rs 2.45 billion in Q1 FY 2024-25. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose to Rs 1.81 billion, marking a 346.04% YoY increase from Rs 0.40 billion in the corresponding quarter of the previous fiscal year.