Saatvik Green Energy to Invest ₹31.5 Billion in Odisha Solar Manufacturing Facility

Saatvik Green Energy, one of India’s leading solar module manufacturers, has announced plans to invest ₹31.5 billion in establishing a large-scale solar manufacturing facility in Odisha. The announcement was made following the signing of a memorandum of understanding (MoU) with the Odisha government on October 10, 2025.

The upcoming facility will be located in Khordha district and is expected to create significant employment opportunities while strengthening India’s domestic solar manufacturing ecosystem. Saatvik Green Energy aims to develop a fully integrated plant, covering wafer, cell, and module production, with an initial capacity of 2 GW, scalable in subsequent phases based on market demand and policy support.

According to company officials, the investment aligns with India’s national goal of achieving 500 GW of renewable energy capacity by 2030 and supports the government’s Atmanirbhar Bharat initiative to reduce dependence on imported solar equipment. Odisha, with its growing industrial infrastructure and renewable-friendly policies, is emerging as a strategic hub for clean energy investment.

Saatvik’s new facility will not only boost local manufacturing but also contribute to India’s export potential in solar components. The project’s construction is expected to begin in early 2026, with commercial operations targeted within two years.

This move follows a broader industry trend of accelerating domestic solar manufacturing, driven by production-linked incentives (PLI) and rising global demand for sustainable energy solutions.

Once operational, the plant is expected to play a pivotal role in enhancing India’s solar supply chain resilience and supporting the country’s transition toward a greener, more self-reliant energy future.

Source: PowerLine.com