Saatvik Green Energy Private Limited has secured a supply order from Maharashtra State Electricity Distribution Company Limited (MSEDCL) to provide solar-powered submersible pumps at 250 locations across Maharashtra. The pumps, ranging from 3 horsepower (HP) to 7.5 HP, aim to enhance water accessibility and support irrigation needs, contributing to sustainable agricultural practices in the region.
Saatvik Solar has entered into a contract with G2H Solar to supply 200 MW of high-efficiency solar photovoltaic (PV) modules for projects across India. The modules, featuring advanced mono PERC bifacial half-cut technology with power ratings of 540/550 Wp, will be delivered over 12 months starting in January 2025.
Saatvik Green Energy has secured a contract with Maharashtra State Power Generation Co. Ltd (MAHAGENCO) to supply 200 MW of n-type TOPCon 580 Wp modules to various locations across Maharashtra. The total value of the order is estimated at INR 30.2 billion. With a module manufacturing capacity of 3.8 GW as of FY24-25, Saatvik is strategically expanding and developing PV modules with advanced zero-busbar and 24-busbar technology. The company is also exploring investments in electrolyser…
Saatvik Solar has secured a contract to supply 213 MW of solar photovoltaic (PV) modules to Larsen & Toubro (L&T) for its 245 MW battery energy storage system (BESS) project in Bihar. The project consists of 185 MW for a grid-connected solar power plant and 45.4 MW for a 4-hour battery storage system in Kajra district. As part of the agreement, Saatvik Solar will provide 545 Wp mono bifacial modules, featuring advanced glass-to-back sheet technology…
Saatvik Solar is reportedly planning to raise Rs 10 billion through an initial public offering (IPO) to fund its expansion plans. The company, which currently has a module production capacity of 1.8 GW, expects to increase this capacity to 3.8 GW by November 2024. Over the next two years, Saatvik plans to invest Rs 22 billion to further boost its module-making capacity to 7.8 GW and establish a 2 GW cell manufacturing capacity.
Solar module maker Saatvik Solar has announced plans to raise funds from private equity investors and launch an initial public offering (IPO) to support its expansion efforts. At a press conference, Group Chief Financial Officer Abani Kant Jha stated that the company is targeting a 100% revenue growth in the current fiscal year, aiming to reach Rs 20 billion. Saatvik Solar, with a current solar module manufacturing capacity of 3.8 GW and an additional 2…
Saatvik Solar has delivered 70.2 MW of high-efficiency Mono PERC 545Wp solar modules for SJVN Limited’s power project in Punjab. These high-performance modules, made from single-crystal silicon, are designed to maximize energy output, even in low-light conditions, and feature a uniform black appearance. Their design makes them especially suitable for projects where space needs to be used efficiently.
Satvik Green Energy has reportedly filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 11.50 billion through an initial public offering (IPO). The offering includes a fresh issue of shares worth Rs 8.50 billion and an offer for sale of Rs 3 billion by the company’s promoters. Proceeds from the IPO will be utilized to repay debt, invest in the company’s subsidiary, Saatvik Solar Industries,…
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