Bhubaneswar, Odisha, 5th June, 2025: Marking
a major milestone in India’s renewable energy journey, Saatvik Solar Industries
Private Limited (“SSIPL”), a wholly owned subsidiary of Saatvik Green Energy
Limited (“SGEL”) today (June 5, 2025) hosted the groundbreaking ceremony of its
upcoming 4.00 GW solar PV module manufacturing facility (“Project Site”), which
shall be set-up on the land sub-leased from Tata Steel Special Economic Zone
Limited (“TSSEZL”) out of total 57 acres located at National Highway – 16,
Chama Khandi, Gopalpur Industrial Park, Gopalpur, Ganjam – 761 020, Odisha,
India.
Planned under SGEL’s wholly owned subsidiary SSIPL, the facility is
poised to become a cornerstone of SGEL’s expansion strategy.
“To maintain and strengthen our position in the renewable energy
sector, we are committed to an approach that emphasizes both capacity expansion
and value-added services. Our focus is on ensuring we remain at the forefront
of solar energy production and EPC solutions and continue to meet the growing
demands of both domestic and international markets. One of our key
strategies is ongoing expansion of our production capacity. We are in the
advanced stages of establishing a new 4.80 GW integrated cell and 4.00 GW
module manufacturing facility in Odisha, which is scheduled to become
operational by the end of Fiscal 2027 and Fiscal 2026, respectively. We are
also in the process of adding a capacity of 1.00 GW in one of our module
manufacturing facilities in Ambala, which is expected to be operational in the
first quarter of Fiscal 2026. Following these additions, we expect our capacity
to be 4.80 GW for cell manufacturing and 8.80 GW for both integrated cell and
module manufacturing across our facilities in Ambala and Odisha. This facility
will significantly enhance our production capabilities and position us to
better serve the increasing demand for high-quality solar modules. This
expansion underscores our commitment to investing in technology and scaling our
operations to meet the evolving needs of the renewable energy sector.,” said
Prashant Mathur, CEO, SGEL.
This strategic expansion marks a significant milestone in Saatvik’s
long-term commitment to support India’s renewable energy vision through
Make-in-India solar capacity.
About Saatvik Green Energy Limited
Headquartered in Gurugram, SGEL is one of India’s leading module
manufacturers, in terms of operational solar PV module manufacturing capacity,
with an operational capacity of approximately 3.80 GW modules as of February
28, 2025. The SGEL offers Mono PERC and N-TopCon modules,EPC services, and
O&M capabilities.
Disclaimer:
SAATVIK GREEN ENERGY LIMITED is proposing, subject to applicable
statutory and regulatory requirements, receipt of requisite approvals, market
conditions and other considerations, an initial public offering of its Equity
Shares and has filed the DRHP with SEBI and Stock Exchanges on March 13, 2025.
The DRHP is available on the websites of SEBI, BSE and NSE at www.sebi.gov.in,
www.bseindia.com and www.nseindia.com, respectively, and on the websites of the
Book Running Lead Managers i.e. DAM Capital Advisors Limited at www.damcapital.in,
Ambit Private Limited at www.ambit.co and Motilal Oswal Investment Advisors
Limited at www.motilaloswalgroup.com, respectively and also at the website of
the Company at https://saatvikgroup.com/Potential investors should note that
investment in equity shares involves a high degree of risk and for details
relating to such risk, see “Risk Factors” on page 54 of the DRHP. Potential
investors should not rely on the DRHP for making any investment decisions.
The Equity Shares offered in the Offer have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (“U.S. Securities
Act”), or any state securities laws in the United States, and unless so
registered may not be offered or sold within the United States, except pursuant
to an exemption from, or in a transaction not subject to, the registration
requirements of the U.S. Securities Act and applicable state securities laws.
Accordingly, such Equity Shares are being offered and sold (i) outside of the
United States in offshore transactions in reliance on Regulation S under the
U.S. Securities Act and the applicable laws of the jurisdiction where those
offers and sales occur; and (ii) within the United States to “qualified
institutional buyers” (as defined in Rule 144A under the U.S. Securities Act),
pursuant to the private placement exemption set out in Section 4(a) of the U.S.
Securities Act.