PVTIME – Indian solar module manufacturer Saatvik Solar, a subsidiary of Saatvik Green Energy Limited (SGEL), has signed a memorandum of understanding with the government of Odisha to build a 3.6GW photovoltaic cell manufacturing facility in Gopalpur. The agreement with the Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) covers Phase II, which is scheduled to commence operations in the 2028 financial year.
Meanwhile, the company’s Phase I project at Gopalpur, which comprises 2.4GW of cell capacity and 4GW of module capacity, has reached the final pre-commissioning stage. Civil and infrastructure works are complete, and equipment installation, testing and validation are currently in progress. The dedicated 220kV substation is ready for energisation and the production lines are undergoing final installation and process commissioning. Cell lines are expected to begin ramp-up shortly, with an Approved List of Models and Manufacturers-II (ALMM-II) audit planned for September.
Prashant Mathur, Chief Executive Officer of SGEL, stated that Odisha marked a key manufacturing milestone and demonstrated the firm’s strategic ambition. He confirmed that the 2.4GW cell and 4GW module lines were entering full production, which would support the group’s drive for scale, vertical integration, and future growth. He added that the 3.6GW Phase II expansion would build on Phase I momentum and target commercial production in FY2028.
Saatvik Solar already operates a 4.8GW module facility in Ambala, Haryana. The ultimate planned capacity of its Odisha complex is 4GW of modules and 6GW of cells. No details have been disclosed regarding the investment required for the 3.6GW Phase-II cell plant, its precise commissioning dates or its technical specifications.
In its latest financial results, the company reported a year-on-year decline of 44% in operating revenue for the first quarter of Financial Year 2027, which ends in June 2026. Saatvik confirmed an order book of approximately 6.35GW, equivalent to 132% of its current operational module capacity of 4.8GW.
Alongside its financial update, the firm announced a Phase III development project in Odisha with a target completion date of Financial Year 2029. This project will include 6GW of ingot and wafer production capacity.
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