Indian solar PV module manufacturer Saatvik Green Energy is to enter the energy storage market through a newly launched subsidiary.
Incorporated last week, Saatvik Power Storage Solutions will focus on developing battery technologies and deploying energy storage systems.
The company is targeting an initial 20GW of energy storage capacity over the next five years and said it would introduce a range of battery and energy storage solutions catering for utility-scale, commercial and industrial (C&I), and distributed renewable energy applications.
Saatvik’s expansion into storage builds on its well-established presence in solar. The company operates a 4.8GW PV module manufacturing plant in Haryana and is developing a new production facility in Odesha with a further 4GW of module and 4.8GW of solar cell capacity. It also has an active engineering, procurement and construction (EPC) arm, covering utility, floating and rooftop solar as well as battery energy storage systems.
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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. This step positions Saatvik to contribute meaningfully to India’s transition toward reliable, round-the-clock renewable power.”
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