Recently, Saatvik Solar Industries, a subsidiary of Indian domestic module manufacturer Saatvik Green Energy, announced that it has secured a photovoltaic module order worth approximately INR 2.99 billion (about USD 33.7 million).
According to the company’s disclosure, the order came from three domestic Indian independent power producers (IPPs) and engineering, procurement, and construction (EPC) companies, though the specific client names were not publicly revealed. All products are scheduled to be delivered in phases between December 2025 and March 2026. This transaction represents a repeat order from existing customers, underscoring their continued recognition of Saatvik’s products and services.
Prashant Mathur, CEO of Saatvik, stated that this new order continues the company’s strong growth momentum from the first half of fiscal year 2026. He emphasized that the company has been focusing on capacity expansion and product line diversification during this period and has now established a solid delivery assurance capability to ensure the order is fulfilled on schedule.
The securing of this order comes at a critical time when India’s photovoltaic industry is accelerating its localization efforts. The Indian government recently updated policies, including the Approved List of Models and Manufacturers (ALMM), to incorporate solar cells into the regulatory scope, aiming to build a robust domestic solar supply chain—a move that aligns with mainstream international industrial policies. Domestic manufacturers, leveraging their policy compliance and service advantages, are increasingly gaining market favor.
