Saatvik Solar Initiates Works To Commence Solar Cell Production

Saatvik Solar Initiates Works To Commence Solar Cell Production

Indian solar module manufacturer Saatvik Solar has commenced work on establishing its own solar cell production line in Odisha. The company had earlier announced plans to begin solar cell manufacturing in the state to strengthen its vertical integration. Additionally, the Ambala-based firm has submitted its Draft Red Herring Prospectus (DRHP) to launch an IPO and enter the Indian stock market to raise public funds for expansion.

Speaking to Saur Energy on the sidelines of Inter-Solar Gandhinagar, Pushpendra Samadhiya, Head of Sales and Marketing at Saatvik Solar, shared updates on the company’s solar cell manufacturing plans.

Land taken, works started 

“The land for the project has already been allocated by the government, and construction is underway. Strategically located near Gopalpur Port, the facility will include a 5 GW solar module manufacturing line and a 4.8 GW solar cell production line. The first phase, with a capacity of 2.4 GW, is expected to begin operations by the end of this calendar year,” he said.

Saatvik Solar currently operates a 3.8 GW solar module manufacturing capacity and is in the process of adding another 1 GW. “This expansion will bring our total module manufacturing capacity to 4.8 GW. The additional capacity is being developed at our Ambala plant. Alongside this, we are setting up an integrated solar module and cell manufacturing facility in Odisha, in Gopalpur, Ganjam district,” Samadhiya, added.

Why Odisha for solar biz?

When asked about the rationale behind choosing Odisha for the new plant, Samadhia explained: “Odisha is a strategic location for this expansion due to its proximity to Gopalpur Port. Additionally, the Odisha government is offering several incentives, including power subsidies, tax benefits, and other financial support.”

On the issue of the shortage of DCR (Domestic Content Requirement) modules for government-mandated solar schemes, Samadhia acknowledged the challenge. “The DCR requirement remains an issue due to the limited number of domestic solar cell manufacturers. However, with the ongoing expansion in solar cell manufacturing capacity, we anticipate this gap will narrow by the end of the year,” he stated.

Providing an update on the company’s IPO, he confirmed: “We have submitted our IPO papers, and once we receive clearance from SEBI, we will move forward accordingly.”

Saatvik Solar now offers its highest-wattage module at 630 Wp in the non-DCR category. The company has also observed increasing consumer interest in TOPCon-based solar modules, particularly in the residential rooftop segment.

Watch a glimpse of the video interview with Saatvik Solar here (Linkedin).