Saatvik Solar Signs MoU with Odisha Government for 3.6 GW Solar Cell Manufacturing Facility at Gopalpur
Saatvik Solar Industries Pvt Ltd has signed a Memorandum of Understanding (MoU) with the Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL), under the Odisha Government, for building a 3.6 GW solar cell manufacturing facility at Gopalpur in Ganjam district, Odisha.
The proposed facility marks an expansion of the company's manufacturing capabilities in Odisha. The new capacity forms part of Saatvik Solar's Phase II development at Gopalpur, which follows its ongoing Phase I integrated manufacturing facility at the same site, where a 2.4 GW cell line and 4 GW module manufacturing line are progressing towards commissioning, with an ALMM-II inspection planned for September.
The company has guided for around ₹1,700 crore in capital expenditure in FY27 toward cell-capacity expansion, and a further ₹1,800-2,000 crore in FY28 as it begins work on an ingot manufacturing project. Phase I has completed major construction and infrastructure works, including a dedicated 220 kV substation, with manufacturing lines in final stages of installation and testing.
The Phase II 3.6 GW cell capacity expansion is intended to support growing demand for domestically manufactured solar products and deepen the company's presence across the solar value chain, with Phase II targeted for commercial production by FY28.