Haryana-based solar manufacturer Saatvik Green Energy has entered the energy storage market through its subsidiary, Saatvik Power Storage Solutions.

The subsidiary, incorporated with an authorized capital of ₹1 million (~$10,832.8), will focus on the development and deployment of battery technologies and energy storage systems.

It plans to explore 20 GW of energy storage opportunities over five years. It aims to introduce battery and energy storage solutions for the utility-scale, commercial and industrial, retail, and residential segments.

Saatvik currently operates a 4.8 GW 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.

Last year, the company operationalized a 2 GW encapsulation polyolefin elastomer film manufacturing facility at Ambala, Haryana.

During its Q3 earnings call for FY 2026, Saatvik said it plans to build an ingot and wafer manufacturing plant aligned with the upcoming Approved List of Models and Manufacturers mandate for ingots and wafers. It also plans to establish a dedicated inverter manufacturing plant.

Apart from solar manufacturing, its offerings include solar inverters and solar pumps, as well as engineering, procurement, and construction solutions.

In Q3 FY 2026, it secured solar pump orders totalling ₹302.4 million (~$3.35 million).

In the Q3 earnings call, Prashant Mathur, CEO at Saatvik Green Energy, said that 95% of the company’s revenue currently comes from module sales, but Saatvik Green aims to increase the contribution from EPC, solar pumps, and inverter businesses to 15%.

Recently, Saatvik Cleantech EPC, another subsidiary of Saatvik Green Energy, acquired a 49% stake in Intelligent Hydel Solutions, which is setting up a 41 MW solar project in Maharashtra.

Saatvik Green recorded a revenue of ₹12.57 billion (~$139.04 million) in the third quarter of FY 2026, representing a 142.6% year-over-year increase from ₹5.18 billion (~$57.32 million). The company attributed the revenue increase to robust demand for solar modules, high-capacity utilization, and continued traction from repeat customers.