New Delhi, March 13 Saatvik Green Energy has established a wholly-owned subsidiary focused on the development and deployment of battery technologies and energy storage systems.
The subsidiary, Saatvik Power Storage Solutions, plans to explore opportunities for 20 GW of energy storage capacity over the next five years, supporting grid stability and renewable integration across key markets, the company said in an exchange filing.
"The subsidiary has been incorporated with an authorized capital of Rs 10,00,000, divided into 1,00,000 equity shares of Rs 10 each, with 100 per cent shareholding held by Saatvik Green Energy," the filing said.
Saatvik Green currently operates a 4.8 GW module manufacturing facility in Ambala, Haryana.