Saatvik Green Energy, a fully integrated renewable energy company, has announced the incorporation of its wholly owned subsidiary, Saatvik Power Storage Solutions, in India. It said the newly formed entity will focus on the development and deployment of battery technologies and energy storage systems for utility-scale, commercial & industrial, residential and distributed renewable energy applications.
“The initiative marks an important step in Saatvik’s strategy to build a clean energy platform that integrates solar generation with storage solutions,” stated Saatvik. “The subsidiary plans to explore opportunities in 20 GW of energy storage capacity over the next five years, supporting grid stability and renewable integration across key markets.”
The subsidiary has been incorporated with an authorised capital of INR 10,00,000 divided into 1,00,000 equity shares of INR 10 each, with 100% shareholding held by Saatvik Green Energy.
Prashant Mathur, CEO of Saatvik Green Energy, said: “Energy storage will play a critical role in enabling the next phase of renewable energy growth. The incorporation of Saatvik Power Storage Solutions Limited reflects our long-term vision to build a comprehensive clean energy ecosystem that integrates solar manufacturing, EPC capabilities, and advanced storage technologies.”
Saatvik Green Energy currently operates a 4.8 GW solar module manufacturing facility in Ambala, Haryana, and is developing a Greenfield integrated manufacturing facility in Odisha with 4 GW of module capacity and 4.8 GW of solar cell capacity.
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