Saatvik Solar secures Rs 57 crore PV module supply order

Saatvik Solar Industries Private Limited, a material subsidiary of Saatvik Green Energy Limited, has received and accepted a solar photovoltaic (PV) module supply order worth Rs 57.03 crore. The order is from a domestic independent power producer or engineering, procurement and construction (EPC) player.

The company disclosed the development to stock exchanges on Monday. It did not name the buyer and stated that the order is commercial in nature. 

Saatvik Green Energy said neither its promoter group nor any group company has any interest in the awarding entity. The transaction does not qualify as a related party transaction.

This follows recent disclosures made on March 27, when Saatvik Solar reported three separate orders totalling Rs 666.74 crore. The largest order, valued at Rs 638.26 crore, is for the supply of Solar Cell G12 R Type to a solar module manufacturer. The contract is scheduled for execution by March 2027. The remaining two orders, worth Rs 14 crore and Rs 14.48 crore, involve the supply of PV modules to independent power producers and EPC players. Both are due for completion by March 2027.

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