Haryana-based solar module manufacturer Saatvik Green Energy has received orders worth approximately ₹7.07 billion (~$79.62 million) to supply solar modules to undisclosed Indian independent power producers and engineering, procurement, and construction contractors.

It has received the orders in two sets. One set of orders is worth ₹4.88 billion (~$54.96 million). The second, from three clients, is worth roughly ₹2.19 billion (~$24.73 million).

The company stated in a regulatory filing that the ₹4.88 billion (~$54.96 million) order is a repeat one. Both orders will be executed within the financial year (FY) 2026.

In September this year, Saatvik Green Energy 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. 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 India’s Solar Market Leaderboard 2025.

In June 2025, Saatvik Solar Industries, a wholly owned subsidiary of Saatvik Green Energy, commenced construction of its solar cell and module manufacturing facility in Odisha. The facility will have the capacity to manufacture 4.8 GW of solar cells and 4 GW of solar modules.

Saatvik is implementing the project at the Gopalpur Industrial Park in the state’s Ganjam district. It is being set up on 57 acres of land sub-leased from the Tata Steel Special Economic Zone. 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 FY 2026.

Saatvik’s initial public offering (IPO) was oversubscribed 6.57 times at the end of the bidding window on September 23, 2025. The price band was set at ₹442 (~$5) to ₹465 (~$5.26) per equity share with a face value of ₹2 (~$0.02). The IPO saw bids for 93.8 million shares, exceeding the 14.27 million shares on offer.