Indian solar sector to witness an exponential rise in the coming years

How was your experience at the recently concluded REI Expo 2022?
REI Expo is a platform for networking and connecting with potential consumers from all around the world. Saatvik has been a part of the event from the company’s inception in 2016 when we began producing Solar Panels. REI Expo is one of the main renewable energy events hosted by Informa markets, assisting participants in connecting with prospects, releasing new items, and showcasing their ongoing models. It’s great to see the REI expo returning to its true strengths after the covid influence. After a prolonged gap seeing such excitement among visitors and curiosity for the show.
What Kind of products are there in your portfolio?
Saatvik currently manufactures polycrystalline modules, Monofacial and Bifacial – Half-cut MBB PV modules for Domestic as well international Solar market segments such as Rooftop, Commercial, and utility applications.
At Saatvik, we are always working on innovations and producing high-quality PV Modules while endeavouring to adhere to the best international quality standards. Our product portfolio includes Solar PV Modules up to 590Wp, which are listed on MNRE’s ALMM-approved list and IEC/BIS certified. As the market shifts toward and demands high-efficiency modules, our R&D team is working diligently across the spectrum, and we will soon be releasing higher-efficiency modules with N-TOPCON technology.
Can you talk about the technology and current capacity of these modules?
Our existing manufacturing capacity at Saatvik is 1.5 GW/Annum, and we are adding another 1 GW capacity by the end of this fiscal year. In addition, we are planning a Greenfield project in Gujarat Gandhidham where we are developing the most modern cell & module production line which will be built to worldwide standards, and the company has already strategized and formalized the strategy. Our Gujarat project will also include a fully integrated module manufacturing line with an initial production capacity of 2Gw/Annum.
At Saatvik we are currently working on MONOPERC -M10 technology modules and soon will be upgrading it to G12 / N-TOPCON cells, presently offering Polycrystalline up to 335 Wp, Mono Perc Half Cut *144 cells up to 545Wp, and bifacial modules *144 cells up to 590Wp which are approved in MNRE ALMM approved list.
Please tell us something about your manufacturing unit.
Our manufacturing unit is situated in the green lush area adjacent to Ambala. Spread across 4 acres, the facility is equipped with the most advanced technology. Our assembly lines are operated by high-tech robotic technology to ensure faster production using limited resources and zero wastage. Currently, at Ambala, we manufacture polycrystalline, Mono Perc, and Bifacial mono perc modules up to 590Wp. We are currently operating with a production capacity of 1.5GW/annum with 7 + years of manufacturing excellence accompanied by major certificates and approvals, and as per our expansion plan adding another 1 GW line by the fiscal year-end.

What is India’s current renewable energy scenario, and what are the various investments and innovations?
India is the world’s third largest power consumer and third largest renewable energy producer, with 40% of energy capacity added in 2022 (160 GW of 400 GW) coming from renewable sources. Solar energy in India has a market share of just 6%, which is low in contrast to China. According to research, consumption per person in India in unit value is only 900 units, but China consumes more than 6000 units per person. To achieve China’s level of energy consumption, India would need to use six times more energy than it does now.
Also, the renewable share in this pie has to increase to about 70%. So this industry has a very bright future and we are committed to developing the required ecosystem for this change. Solar energy is the cheapest energy medium where in you invest not only in renewable energy but contributing your part toward a greener and cleaner future. So fundamentally and economically also, it is the most viable option.
Can you tell us what the industry is witnessing regarding challenges and opportunities?
Every sector confronts different challenges, and the solar industry is no exception. One of the most significant challenges that the solar industry faces is that solar energy is only accessible during the day whereas the power requirement is for the entire day. In most cases, more energy is required during the day for commercial applications to run operations smoothly which to an extent can be fulfilled using solar mediums but for residential applications solar energy is still not that feasible as the storage is not possible as per the required consumption or excess consumptions. It has been analysed that hybrid projects will also become popular as the storage capacities become affordable.
For manufacturers and businesses, there are several other challenges, India requires an infra and ecosystem to promote and innovate new techniques to reduce dependencies.
What are your expansion Plans?
Saatvik has consistently and proactively worked on incubating best technology practices to deliver the best quality Solar PV modules to our customers. As a part of our expansion plan, we are adding a capacity of 1GW/Annum in our Ambala unit, also we are coming up with a greenfield project in Gujarat Gandhidham where we will be introducing an ultra-modern cell facility along with a module assemble line with a capacity of up to 1.5 GW/annum. We are also working on an EPM and CPM model to improve our supply chain.
Saatvik is also planning to enter into export marketing as the export market currently offers an ocean of opportunities for Indian players, wherein we are targeting the USA, Africa, and European markets to enter in the coming fiscal year for which all the ground studies and research has already been done and completed.
Recently Saatvik has added an EPC vertical in our business to accomplish marquee projects across both public and private sectors.