SAEL secures USD 132 millions for AP solar project
Each institution will contribute USD 44 million, the company said, adding that the funding will support project execution and operationalisation in line with India's renewable energy targets. The project was awarded under a competitive auction process conducted by the Solar Energy Corporation of India (SECI).
"This is a significant milestone for SAEL Industries as we remain focused on delivering clean energy solutions to power India's low-carbon transition," said Laxit Awla, CEO of SAEL Industries Ltd. "This investment affirms the faith global institutions have in our capabilities and financial strength."
Dr Katan Hirachand, CEO of Societe Generale India, said the institution is "committed to enabling solutions that will create value for communities and help India accelerate its renewable energy adoption."
SAEL operates a portfolio of over 6.5 GW in solar Independent Power Producer (IPP) projects across India and manages solar module manufacturing capacity of 3.5 GW, using advanced TOPCon technology. It also runs 11 agri waste-to-energy plants in Punjab, Haryana and Rajasthan, processing around 2 million tonnes of agricultural residue annually to combat pollution.
The company has integrated capabilities across engineering, procurement and construction (EPC), operations and maintenance (O&M), and manufacturing.
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