India’s renewable energy sector is witnessing a significant transformation, with Saatvik Green Energy spearheading this change through its ambitious expansion in Odisha. The company has initiated the construction of a state-of-the-art solar manufacturing facility at the Gopalpur Industrial Park in Ganjam District, aiming to bolster India’s position in the global solar industry.
Strategic Expansion in Gopalpur
Saatvik’s new facility is set to encompass a 4.8 GW solar cell manufacturing unit and a 4 GW solar module production line. The module production is slated to commence by the end of fiscal year 2026, followed by the solar cell unit by fiscal year 2027. This expansion is strategically located within the Tata Steel Special Economic Zone, offering logistical advantages due to its proximity to major ports like Paradip and Vizag .
Financial Commitment and Government Incentives
The project involves a substantial investment of ₹2,000 crore in its first phase. Odisha’s government is playing a pivotal role by providing incentives such as a 30% capital investment subsidy, 100% reimbursement of stamp duty, and power tariff reimbursements of ₹2 per unit for a decade . These incentives are designed to attract and support large-scale renewable energy projects in the state.
Enhancing India’s Renewable Energy Landscape
With this expansion, Saatvik aims to significantly increase its manufacturing capabilities, contributing to India’s goal of achieving 500 GW of non-fossil fuel capacity by 2030. The company’s enhanced capacity will also support the domestic solar market and reduce reliance on imports, aligning with the government’s ‘Make in India’ initiative.
Commitment to Sustainability
Saatvik’s investment in Odisha is not just a business expansion but a step towards sustainable development. By increasing the production of solar cells and modules, the company is facilitating the adoption of clean energy solutions across the country, thereby contributing to environmental conservation and energy security. Saatvik Green Energy’s new manufacturing facility in Odisha represents a significant milestone in India’s renewable energy journey. Through strategic location, substantial investment, and government support, the company is poised to play a crucial role in shaping a sustainable energy future for India.
