Saatvik Solar Odisha 3.6 GW MoU
Analysis based on 9 articles · First reported Aug 17, 2026 · Last updated Aug 17, 2026
The expansion strengthens Saatvik's position in India's growing domestic solar manufacturing market, potentially boosting its competitiveness and revenue outlook. It also signals continued investment in renewable energy infrastructure in India — Odisha, which may benefit local suppliers and the broader solar supply chain.
Saatvik Solar Industries Private Limited signed a Memorandum of Understanding (MoU) with the India — Puducherry Industrial Promotion Development and Investment Corporation (IPICOL) to establish a 3.6 GW solar cell manufacturing facility at Gopalpur, India — Odisha. This Phase II expansion complements the company's Phase I integrated facility, which includes 2.4 GW of cell and 4 GW of module capacity and is nearing commissioning. The new facility is targeted for commercial production by fiscal year 2028. The project is expected to generate employment and support the development of the renewable energy manufacturing ecosystem in India — Odisha. Saatvik Green Energy Limited, the operating entity, currently runs a 4.8 GW module plant in Ambala, Haryana, and plans a total of 6 GW cell and 4 GW module capacity in India — Odisha once fully developed.
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