Saatvik Green Energy has received a letter of award from the Maharashtra State Electricity Distribution Company to install 1,500 solar water pumping systems under the Magel Tyala Saur Krishi Pump Yojana.

Saatvik Green will undertake the design, manufacturing, supply, transportation, installation, testing, and commissioning of off-grid DC solar water pumping systems directly at farmers’ sites.  The contract also includes a five-year system warranty, repair and maintenance services, and a remote monitoring system to ensure long-term reliability and farmer satisfaction.

The project spans multiple districts across Maharashtra and will cover capacities of 3 HP, 5 HP, and 7.5 HP DC solar submersible pump sets.

Saatvik Green Energy emerged as one of the top leading Indian module suppliers in 2024, according to Mercom’s recently released India’s Solar Market Leaderboard 2025.

In November 2024, Saatvik Green Energy filed its draft red herring prospectus with the Securities and Exchange Board of India to raise ₹11.5 billion (~$136.26 million) through an initial public offering.

Saatvik Solar Industries, a wholly owned subsidiary of Saatvik Green Energy, recently commenced construction of its 4.8 GW solar cell and 4 GW module manufacturing facility in Odisha.

The solar cell manufacturing facility is scheduled to be operational by the end of fiscal 2027, while the module manufacturing facility is expected to be commissioned by the end of fiscal 2026.

In addition to the Odisha plant, Saatvik is also expanding capacity at its module manufacturing facility in Ambala, Haryana, by 1 GW. The enhanced capacity is expected to be operational in the first quarter of fiscal 2026.

Following the completion of these projects, Saatvik’s total manufacturing capacity will be 4.8 GW for solar cells and 8.8 GW for integrated cell and module production across its sites in Ambala and Odisha.

During the Mercom India Renewables Summit 2025, Prashant Mathur, CEO at Saatvik Solar, had noted that Saatvik was also foraying into the manufacturing of encapsulants and ethylene vinyl acetate sheets.