SAEL Industries to set up Rs 8,000 cr solar facility in Uttar Pradesh
The facility will house a 5 GW solar cell manufacturing unit and a 5 GW solar module manufacturing line. Post-operationalisation, SAEL's total solar manufacturing capacity will rise to 8.5 GW, the company said in a statement.
New Delhi, Jul 14 (PTI) SAEL Industries will invest around Rs 8,000 crore to set up a solar manufacturing facility in Greater Noida, Uttar Pradesh, according to a statement released on Saturday.
'Uttar Pradesh is charting a bold and aggressive path towards renewable energy, setting an ambitious target of generating green energy. Projects like the one undertaken by SAEL's Rs 8,000 crore are vital to achieving this. This is the future, and Uttar Pradesh is ready to lead,' Yogi Adityanath was quoted as saying.
Singh said the facility will be a major leap for scaling up manufacturing capabilities and aligns with the state's solar policy. The plant is expected to strengthen the domestic supply chain and reducing reliance on solar equipment imports.
The plant will produce TOPCon (Tunnel Oxide Passivated Contact) solar cells, recognized globally for their efficiency standards in solar cell technology. These cells will be assembled into solar panels at the in-house Module Manufacturing Line.
SAEL Industries is a renewable energy company with a presence in Agri Waste-to-Energy, Utility-connected Solar, and Solar Module Manufacturing. SAEL has a portfolio of over 6.7 GW of solar independent power producer assets across India. PTI ABI MR
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
17 minutes ago
- Business Standard
July 14 incident a blow to democratic institutions, says Omar Abdullah
Abdullah also spoke about his long-held view that the current dual model of governance in Jammu and Kashmir is 'not an ideal form of government' Press Trust of India Srinagar Jammu and Kashmir Chief Minister Omar Abdullah termed the manhandling incident on July 14 as "shameful", saying people behind this have done "democracy no favours" as such episodes deeply erode public faith in the electoral process. Abdullah also spoke about his long-held view that the current dual model of governance in Jammu and Kashmir is "not an ideal form of government". "What happened on July 14 was shameful. It should never have happened," Abdullah told PTI while referring to an incident at the Martyrs' Graveyard where he and his party colleagues were allegedly manhandled by police. Abdullah cautioned that the "implications and its ramifications will be felt long after" and said if "an elected head of government is being treated that way, imagine what that means for the regular citizens". He voiced deep concern that the incident could lead to widespread disillusionment among voters. "Already I know for a fact that there are people who voted in the last two elections who are today asking themselves whether it was worth voting at all," he said. "It's not about me, it's not about the individual. It's about the office, it's about the institution, it's about the implications. And none of this bodes well for Jammu and Kashmir," Abdullah said He also took a dig at the BJP, highlighting what he perceived as hypocrisy. He said that the BJP itself was part of a government that commemorated similar events between 2015 and 2018. "At that time, why did they not say all this? Because they wanted the fruits of power. So what does that tell you about their commitment and their ideology?" he asked. Responding to criticism from the BJP on the comparison of 1931 martyrs with those killed by Britishers at Jallianwala Bagh, Abdullah said, "I don't agree with anything the BJP says or does. And they don't agree with what I do. Which is fine. That's the difference in our politics." Abdullah also spoke about the ongoing discussions between his government and the Lt Governor's administration aimed at resolving operational differences, particularly concerning the long-awaited "business rules" that would clearly delineate powers and responsibilities within the Union territory's governance structure. He said that his government has not overstepped its boundaries under the J&K Reorganisation Act and has not sought to intrude into the LG's expressly defined domains. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard
17 minutes ago
- Business Standard
J&K CM pushes for 2 key projects as IWT pause opens door for water storage
Jammu and Kashmir Chief Minister Omar Abdullah, an open critic of the 1960 Indus-Water Treaty, is hopeful that the central government will give a go-ahead for the completion of the Tulbul Navigation project in Kashmir and the diversion of Chenab River water to alleviate Jammu's water scarcity. In the aftermath of the Pahalgam terror strike on April 22 that killed 26 people, mainly tourists, the Centre announced a slew of measures against Pakistan for supporting terror groups and waging a proxy war against India. It included keeping the 1960 Indus-Water Treaty in abeyance. According to the treaty, India has unrestricted access to the waters of the eastern rivers -- Sutlej, Beas and Ravi -- amounting to around 33 million acre-feet (MAF) annually, while Pakistan receives the majority of the water from the western rivers -- the Indus, Jhelum and Chenab --totalling around 135 MAF annually. In an interview to PTI recently, Chief Minister Abdullah said that while the benefits of a full reversal of the IWT will take time, his government is focusing on medium-term projects that can begin immediately. Abdullah has been vociferously opposing the treaty since he was the Minister of State of External Affairs, saying that the 1960 agreement was the "most unfair document" ever imposed on the people of Jammu and Kashmir. He described the IWT as a document that "essentially denied Jammu and Kashmir the opportunity to store water" and forced all power projects to be "run of the river". "We can't suddenly build power projects and start storing water," Abdullah said and acknowledged the long-term nature of such undertakings. "It will take time before the benefits of the Indus water treaty start flowing to us." However, he highlighted two specific projects that he believes need to be taken up "immediately" -- which include the revival of the Tulbul navigation barrage in Sopore. This project, he explained, would not only enable the use of the Jhelum River for navigation but also "enable us to generate more electricity" in winter for all our downstream power projects, including Lower Jhelum and Uri hydroelectric projects. The suggestion from the Jammu and Kashmir government to the Centre was to build drop gates at the Tulbul Navigation Project, also known as Wullar Barrage, located on the boundary of Bandipora and Sopore, so that the water level in the Jhelum River could be managed properly. Work on the project was expedited by India following the Uri terror attack in 2016. This initiative was initially suspended in 1987 due to Pakistani objections. Despite India's efforts to resolve the issue, Pakistan declined to engage in discussions during five meetings of the Permanent Indus Commission held between 2017 and 2022. The barrage would also be especially effective in reducing the flow of water during the flood season in the Union territory. The Tulbul project was conceived in 1986 so as to enable year-round flow of water in the Wular Lake for commercial and tourism purposes, which in turn would generate employment in Kashmir. India opposed the Pakistani stand against the barrage, saying that construction of the Tulbul does not violate the treaty since the project is not a storage facility for either drinking water or irrigation but falls into the category of a regulating structure on water flows for non-consumptive use. The second project is a vital water-lifting scheme from Akhnoor to provide a sustainable source of water for Jammu city, which is facing "increasing water shortages". The chief minister said that Chenab is an ideal source, and this project could "feed Jammu for the next two to three decades". When asked if a formal proposal had been submitted to the Centre, the chief minister confirmed that "we have already had the conversation" and added that a senior advisor to the Prime Minister had recently visited the region to review these specific projects linked to the IWT. The advisor's visit, Abdullah noted, signifies that the Centre may give its nod for the projects to move forward. The second short-term suggestion was about lifting water from the Chenab River to ensure a better supply for people in Jammu, the six-month winter capital of Jammu and Kashmir. Jammu city lies on the banks of the Tawi river, which divides the old city on its eastern bank from the new on the west. The Tawi flows from Jammu and Kashmir into Pakistani Punjab, eventually merging with the Chenab River. The JK government has sought approval to engage an international funding agency for the Chenab Water Supply Scheme, aimed at lifting drinking water from the river and supplying it in different areas of the Jammu district to meet the rising water requirements of the town. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
&w=3840&q=100)
Business Standard
17 minutes ago
- Business Standard
Earn Rs 5-10 lakh/month? You may get PR in Italy, Greece, Grenada
Do you earn Rs 5–10 lakh a month, or are you willing to invest a few thousand dollars in a startup or a hotel—or perhaps just buy an apartment? If your wallet can afford it, several countries may be willing to let you settle there for the long term, and in some cases, as a permanent resident. According to Andrew Boiko, founder of global immigration firm options for the 'comfortably wealthy' include France, Italy, Greece and Grenada. 'The choice is obvious. You can buy an apartment in Gurugram, but that won't allow you to live in Italy, for example. But if you buy an apartment of the same cost in Italy, you can live there or anywhere else in Europe along with easy access to so many other countries,' Boiko told news agency PTI. recently opened its India office in New Delhi and says it received over 4,000 requests from prospective Indian clients within the first three months. The consultancy told Business Standard last week that it plans to expand to Mumbai, Hyderabad, Bengaluru and Chennai by the end of 2025. Why Indians are looking abroad 'Indians are very pragmatic. They don't want to pay a donation for nothing. They want the money back. They also want a return on their investment,' Boiko told PTI. This is where financial independence and investment-based residency programmes appeal to Indians planning to relocate. Earlier he told Business Standard that over the past few years, they have seen a rise in inquiries from Indian high-net-worth individuals seeking legal and structured pathways to global mobility. "This trend has intensified recently due to new US immigration policies under Donald Trump and an increase in deportation cases,' said Boiko. Many of these individuals are now looking at investment-based citizenship or residency options that allow visa-free travel, family inclusion and more flexible business opportunities. What is a financial independence visa? Under this programme, a person needs to show a steady income beyond a certain threshold to be granted residency. This can then be converted to citizenship after a few years, depending on the country's laws. In Europe and the Caribbean, most countries offer long-term residency or even citizenship if certain investment or income thresholds are met. In the Middle East, long-term residency (up to 10 years) is more common, usually in exchange for a fixed donation or investment. According to Boiko, those applying under this route must typically demonstrate a stable income of €5,000 to €10,000 per month (roughly Rs 5–10 lakh). Why Grenada is emerging as a top option Grenada, a small island nation in the Caribbean, is considered one of the safest places in the world and offers visa-free travel to countries across Europe, the UK, Hong Kong, Russia, Singapore and the UAE. Grenadian citizenship also provides easy access to the US. 'In the Caribbean, even the most affordable options like Grenada require a minimum investment of $235,000 through a donation to the National Transformation Fund,' Boiko said. Alternatively, a real estate investment of at least $270,000 in a government-approved project also qualifies. 'These are premium offerings for affluent individuals. The benefits go beyond residency—they offer tax advantages, access to healthcare and education, and often a backup plan in an increasingly uncertain world,' he told Business Standard. However, Rahim Lakhani, CEO of TLG Global, told Business Standard, "These programmes lack Schengen benefits and are facing growing scrutiny. EU residency options like Latvia's offer more stability than non-EU citizenship programmes." He added that the EU has pressured Caribbean nations to raise investment thresholds and tighten due diligence to prevent misuse. Golden visas and what they offer Boiko explained that golden visas are generally quick ways to obtain residency, which can eventually lead to citizenship in certain countries. 'Some of the countries, like European golden visas, allow you to get citizenship in five to ten years,' he said. 'On the other hand, in the Middle East, you are unable to get citizenship in most cases. You can only have residency, but that can be for up to ten years.' While residency allows one to live, work or study in a country with family, only citizenship unlocks full benefits. However, European golden visas often provide visa-free access to the rest of Europe and some parts of Latin America and North America. It also makes it easier to secure visas for the UK, Australia or the US, Boiko added. He said countries benefit too. Their businesses gain from foreign investment in property, companies, banks or bonds. 'It's like mutual beneficial cooperation,' he said. Examples of available programmes include: Portugal: minimum investment in innovation or cultural funds, moving away from real estate Greece: €250,000 investment in real estate Spain: €500,000 investment in property Other countries offering residency options are Italy, France, Hungary, and Latvia, with varying qualifying routes such as investment funds, business creation, or real estate purchase. Vinay Kumar, Head of Estate and Succession Planning at Client Associates, told Business Standard, "For instance, Greece offers residency permits for real estate investments starting at €250,000, and Portugal provides residency through investments in funds or job creation initiatives. These programmes grant residency rights, which can lead to citizenship over time, subject to meeting specific criteria." Some countries offer a 'golden passport' Several countries, including Malta and those in the Caribbean, also offer citizenship in a short span of time, sometimes as quickly as six to eight months. However, in April the European Court of Justice ruled that Malta's citizenship-by-investment scheme was in breach of EU law. But Boiko cautioned that the terms 'golden visa' and 'golden passport' can vary across countries. In Portugal, for example, applicants may need to establish or invest in a company and create jobs, while in the UAE, visa eligibility can be tied to employment and salary levels. Which countries and routes are most popular? Boiko said that income-based residency remains the top choice for Indians. If someone has a steady income of more than €5,000 a month for six months to a year, they can qualify for residency in several countries. In France and Spain, permanent residency is granted after five years and citizenship after six or seven years. Italy offers a more flexible option. Its golden visa programme allows investors to redeem their investment after two years. 'When you invest in Italy, you get a residency within two to three months. Permanent residency follows after five years,' Boiko said. 'After ten years, you can get citizenship—and the Italian passport is one of the most powerful in the world.' He added that properties in Italy can also appreciate in value. 'If you want, you can sell your property in Italy with good returns after two years and then buy one in Gurugram,' he told PTI. Countries, for their part, conduct thorough due diligence before granting residency or citizenship. Some even require applicants to pass language tests. Boiko said this isn't just about fees, but about attracting people who will actively contribute to the economy.
