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United News of India
7 days ago
- Business
- United News of India
SAEL secures USD 132 millions for AP solar project
New Delhi, May 30 (UNI) SAEL Solar MHP1 Pvt Ltd, a subsidiary of SAEL Industries Ltd, on Friday announced that it has secured USD 132 million in debt financing from three global financial institutions — the Asian Infrastructure Investment Bank (AIIB), the New Development Bank (NDB), and Societe Generale — for the development of a solar power project in Andhra Pradesh. 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. UNI BDN ARN
Time of India
7 days ago
- Business
- Time of India
SAEL Solar secures $132 million funding for Andhra Pradesh solar project
New Delhi: SAEL Solar MHP1 Pvt. Limited, a subsidiary of SAEL Industries Ltd., has secured $132 million in debt finance from the Asian Infrastructure Investment Bank (AIIB), New Development Bank (NDB), and Societe Generale for the development of a solar power project in Andhra Pradesh. Each financial institution has committed $44 million towards the project, which was awarded under a competitive auction conducted by the Solar Energy Corporation of India (SECI). The funds will be directed towards the execution and operationalization of the project, aligning with India's renewable energy goals and the development of clean energy infrastructure in the state. 'These funds represent a major development for SAEL Industries as we continue our efforts to deliver sustainable clean energy solutions that facilitate India's transition to a low-carbon future. The support from these institutions reflects confidence in our technical expertise and financial credibility to execute energy infrastructure. We are aligned with the state's mission to drive forward the clean energy transition and economic development in Andhra Pradesh with this solar project,' said Laxit Awla, CEO, SAEL Industries Ltd. 'By supporting SAEL solar project, Societe Generale is committed to enabling solutions that will create value for communities and the broader energy ecosystem, helping India achieve its goals of renewable energy generation adoption,' said Dr. Katan Hirachand, Chief Executive Officer, Societe Generale India. SAEL Industries has a portfolio of over 6.5 GW of solar Independent Power Producer (IPP) projects, including operational and under-development assets across India. It operates solar module manufacturing facilities with a combined capacity of 3.5 GW, utilizing TOPCon technology. The company also runs an agri waste-to-energy business, processing approximately 2 million tonnes of agricultural residue annually through 11 plants across Punjab, Haryana, and Rajasthan. SAEL Industries is an integrated renewable energy company with in-house Engineering Procurement and Construction (EPC), Operations and Maintenance (O&M), and manufacturing capabilities.
Business Upturn
23-05-2025
- Business
- Business Upturn
Bondada Engineering secures allocation for 2000 MW solar power capacity in Andhra Pradesh
Bondada Engineering Limited has received a Government Order (GO) from the Energy Department of the Government of Andhra Pradesh for the allocation of 2000 MW AC / 2600 MWp DC solar power capacity. The solar projects will be developed across various locations in Ananthapuramu and Sri Sathya Sai districts. The Company had earlier submitted detailed project proposals for the specified capacity. The proposed project locations include: Sri Sathya Sai District : Villages in Roddam and Kothacheruvu Mandals Ananthapuramu District: Villages in Gooty, Peddavadugur, Vidapanakallu, Peddapappur, and Narpala Mandals These proposals were reviewed and approved in the State Investment Promotion Board (SIPB) meeting held on May 15, 2025. The allocation is subject to the condition that there is no overlap with areas already assigned to other developers for renewable energy or wind resource assessment projects. As per the Andhra Pradesh Integrated Clean Energy Policy – 2024, the implementation timeline for the project is 24 months. The current order, valued at ₹9,000 crore, brings the company's order book to over ₹14,000 crore. Additionally, Bondada Engineering anticipates generating approximately ₹1,160 crore in revenue from Independent Power Producer (IPP) operations starting FY 2029. This development supports ongoing efforts to expand renewable energy infrastructure in Andhra Pradesh in line with state and national clean energy objectives. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Zawya
05-05-2025
- Business
- Zawya
Dubai's DEWA raises Mohammed bin Rashid Solar Park target to 7,260MW by 2030
Dubai Electricity and Water Authority (DEWA) has increased the planned capacity of the Mohammed bin Rashid Al Maktoum Solar Park to more than 7,260 megawatts (MW) by 2030, up from an earlier target of 5,000MW. The facility, described as the world's largest single-site solar park developed under the Independent Power Producer (IPP) model, involves a total investment of 50 billion UAE dirhams, according to a press statement by DEWA. To date, the solar park has commissioned 3,460MW of clean energy capacity from both photovoltaic (PV) solar panels and concentrated solar power (CSP). An additional 1,800MW of PV capacity is currently under construction. Clean energy now makes up 20 percent of Dubai's total installed power generation capacity. The seventh phase of the solar park, for which tendering is underway, will raise clean energy share from the initially targeted 27 percent to 34 percent by 2030. Under the Dubai Clean Energy Strategy 2050, the emirate aims to produce 100 percent of its energy from clean sources by 2050. (Writing by Deva Palanisamy; Editing by Anoop Menon)
Business Standard
01-05-2025
- Business
- Business Standard
KP Group strengthens operations through advanced technology adoption
PNN Surat (Gujarat) [India], May 1: KP Group, one of India's leading renewable energy companies, has reaffirmed its commitment to operational excellence by integrating the latest technologies into its asset management and performance optimisation strategies. As part of this initiative, the Group has deployed IBM Maximo Renewables across its renewable energy operations, managing a portfolio of over 1.4 GW across 73+ sites. The full-suite Maximo solution, Monitor, Operate and Analyse, has enabled KP Group to streamline its asset management processes for both Independent Power Producer (IPP) and Captive Power Plant (CPP) services. With over 75 Open Access PPA customers and over 130 CPP clients, the Group has significantly enhanced its performance visibility, reporting accuracy, and maintenance workflows. Dr. Faruk G. Patel, Founder, Chairman & MD of KP Group, said, "IBM Maximo Renewables has significantly transformed our operations. With its robust data warehouse seamlessly integrated with our self-hosted Power BI, our reporting now delivers real-time insights at the organisational and investor levels. The Operate module has streamlined work and material management. Advanced string analytics have empowered us to identify and resolve underperforming strings, optimising performance." The application suite complements KP Group's state-of-the-art Network Operations Centre (NOC) as it ensures seamless performance of solar, wind, and hybrid energy projects by leveraging advanced technologies, real-time data, and best-in-class practices. KP Group has reported marked improvements in several key operational areas, such as fully automated, hourly-based dashboards, eliminating manual reporting and significantly improving accuracy, over 9,000 real-time string analytics for proactive issue identification, and reduction in energy loss per corrective work order, with targeted optimisation of 2-5% annually. The 100% contractual compliance in O & M performance supports generation guarantees and financial transparency. These results reflect KP Group's strategic focus on data-driven asset performance, addressing general challenges such as downtime, integration inefficiencies, and difficulty in root cause analysis. The company now enjoys near real-time oversight across solar, wind, and hybrid assets, ensuring smarter, more sustainable energy generation. KP Group now offers CPP clients real-time access to accurate and transparent data via web and mobile applications, reinforcing trust and confidence in the company's capabilities. Notably, IBM has come out with a case study taking note of KP Group's success and recognising the implementation as a benchmark for technology-driven transformation in the renewables sector. Through its continued focus on innovation and adopting cutting-edge technology, KP Group is not only enhancing its operational efficiencies but also strengthening its position as a responsible energy provider committed to sustainable growth and customer satisfaction.
