Saatvik Solar Signs MoU With Odisha Government For 3.6 GW Solar Cell Manufacturing Plant At Gopalpur
Saatvik Solar Industries Private Limited, a subsidiary of listed Saatvik Green Energy Limited (SGEL), has signed a Memorandum of Understanding with the Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) to establish a 3.6 GW solar cell manufacturing facility at Gopalpur in Ganjam district, Odisha.
The proposed facility will form Phase II of Saatvik's Gopalpur manufacturing campus, extending the company's existing site rather than a new plot. Commercial production from the Phase II line is targeted for FY28. The facility will be located on land sub-leased from Tata Steel Special Economic Zone Limited within Gopalpur Industrial Park, on National Highway 16 at Chama Khandi, roughly 12 km from Gopalpur port.
The MoU follows progress on Saatvik's Phase I development at Gopalpur, comprising 2.4 GW of cell and 4 GW of module manufacturing capacity. Major construction and infrastructure works for Phase I are complete, with equipment installation, testing and validation currently under way ahead of commissioning; a dedicated 220 kV substation is ready for charging, and an ALMM-II inspection is planned for September.
Saatvik has not disclosed a specific capital outlay for the 3.6 GW Phase II cell line. The company has separately guided for around ₹1,700 crore of capex in FY27 for cell capacity expansion and a further ₹1,800-2,000 crore in FY28 as it begins work on an ingot project. Saatvik has also outlined a Phase III at Gopalpur comprising 6 GW of ingot and wafer capacity, targeted for completion by FY29.
Saatvik Green Energy CEO Prashant Mathur said the Odisha expansion reflects the company's ambition to build integrated manufacturing capabilities at scale, strengthening its presence across the solar PV value chain amid rising demand for domestically manufactured cells under India's ALMM framework.