6 hrs ago
Saatvik Green Energy Wins Rs 1,041 Crore SECI Solar Order
Saatvik Green Energy has received a large solar-panel order from a government-backed organization.
The order is worth Rs 1,041.63 crore.
It requires Saatvik to provide solar modules capable of producing 600 MWp of power.
The modules must use solar cells made in India.
Saatvik must complete the work by December 2027.
The company already has a large module factory in Ambala.
It is also building more solar-cell and module capacity in Odisha.
The company said the order shows growing support for solar manufacturing in India.
Saatvik Green Energy secured a Rs 1,041.63 crore order from the Solar Energy Corporation of India.
The order covers 600 MWp of domestically manufactured solar photovoltaic modules.
Saatvik must manufacture, test, pack, supply and transport the modules by December 2027.
The company operates a 4.86 GW module plant in Ambala and is developing additional cell and module capacity in Odisha.
Saatvik's share price rose 5.79% intraday on September 16 but was down 6.54% over the previous year.
- Who
- Saatvik Green Energy and the Solar Energy Corporation of India.
- What
- A Rs 1,041.63 crore order for manufacturing, testing, packing, supplying and transporting 600 MWp of solar photovoltaic modules.
- Where
- The modules will be manufactured by Saatvik, which operates a facility in Ambala and is developing additional capacity in Odisha.
- When
- The order was disclosed on Tuesday, and execution is due by December 2027; the share-price movement was reported for September 16.
- Why
- The order was issued under a tender requiring solar modules made with domestic solar cells.
Key facts
- Order value
- Rs 1,041.63 crore
- Awarding organization
- Solar Energy Corporation of India
- Order capacity
- 600 MWp of solar photovoltaic modules
- Domestic-content requirement
- Modules must use domestically manufactured solar cells
- Execution deadline
- December 2027
- Existing module capacity
- 4.86 GW at Saatvik's Ambala facility
- Share-price performance
- Up 5.79% intraday on September 16; down 6.54% over the past year
Quotes
Prashant Mathur
Chief executive officer of Saatvik Green Energy
“The 600 MWp order from SECI, under a tender requiring domestically manufactured solar cells, is significant not only for its scale but for what it represents for India’s renewable energy ecosystem.”
financialexpress.com
Sources
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