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Saatvik Is The Leading And Fastest Growing Brand With A Production Capacity Of 1 GW/Annum In Ambala: Prashant Mathur, CEO, Saatvik Green Energy

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Prashant Mathur CEO, Saatvik Green Energy

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Conversation Highlights:

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  • With continuous efforts and sales practices, Saatvik jumped from a distant No. 10 to a Top 3 Module manufacturer in India. 
  • We have grown exponentially, from the date of incorporation in 2016 we have supplied nearly about 1GW+ modules in the market.
  • At Saatvik, we manufacture Polycrystalline, Mono Perc, and Bifacial Half cut modules up to 590Wp which are best suited for rooftop and ground-mounted projects.

Can you brief our readers about your educational and professional background?

“I have experience in successfully leading major corporate transformations from conception to execution.” Having worked in the renewable energy sector and being a solar enthusiast, experienced chief strategist, and Executor I have a track record of creating new benchmarks in the renewable and environmental industries. With an entrepreneurial skill set and extensive expertise in incubating and running businesses in both the Indian and global markets, I have successfully formalized business strategies with management and taken businesses to heights. A strategically strong and seasoned engineer with an MBA in marketing effectively managing and building brand value along with assisting in the exponential growth of business volumes by taking key decisions.

I started off my career journey in 2000 as a management trainee with Navin Fluorine International Ltd. where I delivered and learned in-depth about business tactics, sales, and revenue generation. My exposure to setting up a new business in the Indian market, team building, and formulating strategies to accommodate new innovative technologies have helped me in attaining and delivering results with leading brands such as Targray Technologies International, Vikram Solar, Solis, Adani Solar, and now as CEO Saatvik Green energy Pvt Ltd.

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What are the types of modules that Saatvik offers and their specialties?

Saatvik is the leading and fastest growing brand with a production capacity of 1 GW/Annum in Ambala (Haryana). We feel proud to have been playing a major role in strengthening energy security, minimizing climate change, and promoting economic development in India.

At Saatvik we manufacture Polycrystalline, Mono Perc, and Bifacial Half cut modules up to 590Wp which are best suited for rooftop and ground-mounted projects. Our solar PV modules are equipped with PV Cycle certification for recycling Saatvik PV modules.

Some of the key features that Saatvik modules offer are as follows:-

  • Built-in with advanced technology using MBB- Multi Busbar (10BB)/half cut mono perc cells /GA doped wafers.
  • Deliver high performance even during weak lights.
  • Undergoes multiple tests ensuring high-quality products are delivered at job sites.
  • Built-in for harsh weather such as in deserts, farms, and coastline areas.
  • ALMM, BIS, UL & IEC approved
  • Undergoes rigorous testing criteria ensuring defect-free modules.

How do you see the likely price trend of solar modules in upcoming quarters?

The recent scenario states that the industry is witnessing increased energy demand worldwide, significantly solar module demand has also increased exponentially and is surpassing Polysilicon capacity by 2X globally. Apart from several factors including the influence of Covid-19 and the Russia-Ukraine war, which have had a significant impact on solar module costs. Even the market in the previous decade has had a significant influence on polysilicon pricing, as prices for polysilicon have climbed significantly due to rising market demand. The dollar price is too witnessing its highest fluctuation rate with an increase of up to 2% due to numerous reasons and factors indirectly impacting imports and exports. Market disruptions in terms of demand and supply will undoubtedly continue to affect pricing in the future, and exemptions and data indicate that prices are projected to grow in the future.

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How many modules have you supplied in India till now? What is the target/expectation for this year and next year?

With our clear vision & mindset, we have grown exponentially, from the date of incorporation in 2016 we have supplied nearly about 1GW+ modules in the market. With continuous efforts and sales practices, Saatvik jumped from a distant No. 10 to a Top 3 Module manufacturer in India. In the financial year, 2022-23 company aims to supply nearly about 700MW+ modules in the market and expects to double the volume to nearly about 1 GW+ as the company has started its global market supply as well.

What do you think is needed to ramp up manufacturing in India? Or are we on track?

India is a growing manufacturing hub and soon will become one of the most preferred countries in the global market for manufacturing quality products. With Govt continuously supporting solar module manufacturers by introducing incentive schemes and policies such as PLI Scheme, the solar sector is soon going to witness high demand. According to the rating agency, robust domestic demand, favorable government policy, increased module conversion efficiency, and price competitiveness will push production capacity. Indian-made items may be more acceptable than imports since they have more reliable supply chains and are not constrained by rising shipping costs, as well as being possibly more competitively priced.

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