Saatvik Green Energy subsidiary Saatvik Solar Industries Private Limited has applied for enlistment under the Approved List of Manufacturers and Models (ALMM) List-II for its 2.4 GW solar cell manufacturing facility in Odisha.

The application, filed on September 1, 2026, covers Monocrystalline Bifacial N-TOPCon G12R solar cells under the Domestic Content Requirement (DCR) category. The move aims to strengthen India’s domestic solar PV value chain.

Facility Details

Located in Ganjam, Odisha, the facility has an applied manufacturing capacity of 2,400 MW. It is designed to produce high-efficiency, high-wattage solar cells using advanced N-TOPCon technology.

Subject to approval by the Ministry of New and Renewable Energy (MNRE), the facility will be eligible for deployment in projects requiring compliance with domestic sourcing norms.

Strategic Context

This development marks an upstream expansion in Saatvik’s manufacturing roadmap. The company currently operates a 4.86 GW module manufacturing capacity in Ambala, Haryana. The Odisha facility forms part of a broader greenfield integrated project planned to include 4 GW of module capacity and 6 GW of solar cell capacity.

Prashant Mathur, CEO of Saatvik Green Energy, stated that the advancement toward ALMM List-II enlistment is a milestone in building competitive solar manufacturing capabilities in India. He emphasized the focus on technology, scale, and domestic production to support long-term renewable energy ambitions.

What the Numbers Show

The application highlights a strategic shift from module-only assembly to integrated cell manufacturing. By targeting the DCR category with N-TOPCon technology, Saatvik positions itself to capture demand from government-backed projects that mandate domestic sourcing, potentially improving supply chain resilience and margin stability compared to imported cells.

Saatvik Green Energy Limited will hold its 11th Annual General Meeting on September 24, 2026. The meeting is scheduled for 11:30 am and will be conducted through Video Conferencing or Other Audio-Visual Means.

The company published a pre-dispatch public notice in Business Standard on August 27, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice informs shareholders about the upcoming meeting and the dissemination of the Annual Report for the financial year ended March 31, 2026.

Meeting Details

The AGM will be held without the physical presence of members at a common venue. Members participating through the VC/OAVM facility will be counted for the purpose of reckoning quorum under Section 103 of the Companies Act, 2013. The deemed venue of the meeting is the registered office of the company.

Shareholder Communication

The Notice convening the AGM, along with the Annual Report, will be sent electronically to members who have registered their email addresses with the company, Registrar and Share Transfer Agent, or Depository Participants. For members who have not registered their email addresses, the company will send a letter containing a web link to access these documents.

Shareholders are requested to register or update their email addresses with their respective Depository Participants to receive communications in electronic form. The documents will also be available on the company's website and the stock exchanges' platforms once disseminated.