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Saatvik Green Energy unit wins ₹190 crore solar module order
The order is the second major win in recent weeks, following a ₹476 crore deal last week.
LiveMint Markets reports that Saatvik Green Energy said its material subsidiary, Saatvik Solar Industries, secured a ₹190 crore order for the supply of solar PV modules.
The outlet says the company did not name the awarding entity in its regulatory filing, but described it as an independent power producer or EPC player, adding that promoters and the promoter group have no interest in the counterparty and that the contract is not a related party transaction.
LiveMint Markets also notes the solar module order is the second significant win in recent weeks. The prior week, the subsidiary secured a ₹476 crore order from Vikran Engineering for solar PV modules.
The company further said its subsidiary signed an MoU with IPICOL, Government of Odisha, to set up a 3.6 GW solar cell manufacturing facility in Gopalpur, Odisha. LiveMint Markets adds that Phase I of the Gopalpur manufacturing facility has made substantial progress, with major construction and infrastructure work completed, and equipment installation and testing underway.