Saatvik Green Energy (SGEL) has outlined a Rs 3,150 crore capital expenditure plan for a greenfield solar manufacturing project in Odisha.

The project, to be executed in phases, will include a four GW solar PV module and 4.8 GW cell manufacturing capacity. The first phase involves setting up 4 GW of module and 2.4 GW of cell capacity, with a combined investment of Rs 1,850 crore. The second phase will add another 2.4 GW of cell capacity with Rs 1,300 crore capex.

SGEL, known for high-efficiency PV modules and EPC services, currently operates 3.8 GW module capacity and is adding one GW more in Ambala, Haryana. CEO Prashant Mathur stated that the Odisha facility will support the company's aim to maintain market share and become a fully integrated renewable energy player. SGEL plans to localise the entire solar value chain—from wafer to inverter. In Q1/FY26, SGEL achieved 81.47 percent capacity utilisation with 685 MW production and a 4.05 GW order book.