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Saatvik Green Energy Ltd (SGEL) has announced a ₹3,150 crore capital expenditure plan for a greenfield solar manufacturing facility in Odisha.
The project will be developed in phases, featuring a total capacity of 4 GW for solar PV modules and 4.8 GW for solar cells. In the first phase, SGEL will invest ₹1,850 crore to establish 4 GW of module and 2.4 GW of cell capacity. The second phase will add another 2.4 GW of cell manufacturing with an additional ₹1,300 crore investment.
SGEL, known for its high-efficiency PV modules and EPC services, currently operates 3.8 GW of module capacity and is adding 1 GW more at its Ambala facility in Haryana. CEO Prashant Mathur stated that the Odisha plant will support SGEL’s goal of becoming a fully integrated renewable energy player and sustaining its market share.
The company aims to localize the entire solar value chain—from wafer to inverter. In Q1 FY26, SGEL achieved 81.47% capacity utilization, producing 685 MW, and holds an order book of 4.05 GW.
News by Rahul Yelligetti.
