India's Saatvik Solar Secures INR 4,001.6 Million Solar PV Module Order

en.Wedoany.com Reported - On August 11, India's Saatvik Green Energy disclosed that its key subsidiary, Saatvik Solar Industries, has received and accepted an order for the supply of solar PV modules totaling INR 400.16 crore, equivalent to INR 4,001.6 million, with delivery scheduled to be completed by March 2027.

The order has been placed by a domestic Indian independent power producer or EPC company, and is classified as a commercial contract, with the scope of supply covering solar PV modules. Saatvik has not disclosed the customer's name, module quantity, corresponding installed capacity, product models, or the specific application project.

The company confirmed that its controlling shareholder, the controlling shareholder group, and other group entities hold no interest in the ordering party, and that this order does not constitute a related-party transaction. In accordance with the listing disclosure rules of the Securities and Exchange Board of India, Saatvik Green Energy has submitted the order details to the Bombay Stock Exchange and the National Stock Exchange of India.

In fiscal year 2026, Saatvik Green Energy produced 3,162 MW of solar PV modules and sold 3,138 MW, achieving a capacity utilization rate of 84.07%; as of the end of that fiscal year, the company's order backlog stood at 5.89 GW. Its products include monocrystalline PERC and N-type TOPCon modules, although the specific technology route for this contract has not been disclosed.

Saatvik currently operates a module manufacturing facility in Ambala, Haryana, India, and is developing an integrated manufacturing project in Odisha, planned to establish 4 GW of module capacity and 4.8 GW of cell capacity. No direct supply relationship between this expansion project and the current order has been disclosed.