Saatvik Green Energy Secures Rs 1,900 Million Solar Module Order
POWER & RENEWABLE ENERGY

Saatvik Green Energy Secures Rs 1,900 Million Solar Module Order

Saatvik Green Energy Limited announced that its material subsidiary, Saatvik Solar Industries Private Limited, has received and accepted a commercial order worth Rs 1,900 million (Rs 1,900 mn) from a domestic independent power producer/engineering, procurement and construction player for the supply of solar photovoltaic modules. The company said the contract has been recorded as a commercial order and will contribute to the firm’s manufacturing and sales pipeline. The order reinforces the group’s position in the domestic renewable energy equipment market.

According to the regulatory filing, the order was awarded by a domestic entity and is scheduled for execution by March 2027. The subsidiary has not identified the IPP/EPC player that placed the order. The contract covers the supply of solar photovoltaic modules to be delivered under the terms specified in the company filing.

Saatvik Green Energy clarified that neither the promoter nor the promoter group has any interest in the awarding entity and that the transaction does not constitute a related-party transaction. The company noted that the order will add to its commercial order book and support its downstream sales activities in the domestic market. The fresh contract is expected to help the group pursue existing customer commitments while enhancing visibility of near-term revenue from module supplies.

Market observers will view the award as a sign of sustained demand for domestically supplied solar modules as project developers progress construction schedules. The addition to the pipeline is likely to support utilisation of manufacturing lines and assist the firm in meeting delivery timelines for ongoing and upcoming projects. Management will continue to monitor order execution through to the stated completion date and update stakeholders through further regulatory filings.

Saatvik Green Energy Limited announced that its material subsidiary, Saatvik Solar Industries Private Limited, has received and accepted a commercial order worth Rs 1,900 million (Rs 1,900 mn) from a domestic independent power producer/engineering, procurement and construction player for the supply of solar photovoltaic modules. The company said the contract has been recorded as a commercial order and will contribute to the firm’s manufacturing and sales pipeline. The order reinforces the group’s position in the domestic renewable energy equipment market. According to the regulatory filing, the order was awarded by a domestic entity and is scheduled for execution by March 2027. The subsidiary has not identified the IPP/EPC player that placed the order. The contract covers the supply of solar photovoltaic modules to be delivered under the terms specified in the company filing. Saatvik Green Energy clarified that neither the promoter nor the promoter group has any interest in the awarding entity and that the transaction does not constitute a related-party transaction. The company noted that the order will add to its commercial order book and support its downstream sales activities in the domestic market. The fresh contract is expected to help the group pursue existing customer commitments while enhancing visibility of near-term revenue from module supplies. Market observers will view the award as a sign of sustained demand for domestically supplied solar modules as project developers progress construction schedules. The addition to the pipeline is likely to support utilisation of manufacturing lines and assist the firm in meeting delivery timelines for ongoing and upcoming projects. Management will continue to monitor order execution through to the stated completion date and update stakeholders through further regulatory filings.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Bengaluru Metro Awards Rs 554.8 mn Travellator Contract

Bengaluru Metro Rail Corporation (BMRCL) has awarded a Rs 55.48 crore (Rs 554.8 million (mn)) contract to Milan Road Buildtech LLP for civil and structural works to install a travellator and a connecting walkway at Central Silk Board. The contract covers design, construction and structural interfaces required to link the two adjacent metro stations. BMRCL authorised the award as part of procurement for infrastructure works on the Phase-2A project. The procurement followed BMRCL's standard tendering and evaluation procedures. The project will connect the Yellow Line Central Silk Board station w..

Next Story
Infrastructure Transport

GMRC Floats Tenders For Ahmedabad Metro RRTS Hybrid Corridors

Gujarat Metro Rail Corporation (GMRC) has floated three tenders for design consultancy services for the Ahmedabad Metro Phase three Metro cum Regional Rapid Transit System (RRTS) hybrid corridor. The procurements cover work on an additional network of 48.38 kilometre (km) to be integrated into the existing metro system. GMRC framed the tenders to secure specialised consultancy for alignment design, systems integration and coordination with RRTS planning. The consultancy scope will support detailed design and interface management for the hybrid corridors. The proposed hybrid routes include Vaki..

Next Story
Infrastructure Transport

Pune Metro Groundwork Starts on Swargate Katraj Underground Line

Construction work has begun on Pune Metro’s underground extension from Swargate to Katraj, with excavation starting at the busy Market Yard station. MLA Madhuri Misal inaugurated the excavation and inspected activities along the corridor. Maha Metro has commenced digging shafts to lower Tunnel Boring Machines (TBMs) into the ground and intends to deploy four TBMs gradually over the next few months. Station building and tunnelling will proceed simultaneously to streamline the schedule. Because the entire line is underground, authorities expect traffic disruption to be minimal and road space w..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement