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Business Standard
14-07-2025
- Business
- Business Standard
SAEL to invest ₹8,200 cr in Greater Noida solar manufacturing plant
Indian renewable energy firm SAEL Industries Ltd will invest ₹8,200 crore ($954.04 million) to build a 5-gigawatt (GW)-per-year integrated solar cell and module manufacturing facility in the northern state of Uttar Pradesh, the company said on Monday. Through one of the largest investments seen so far in the solar manufacturing space in India, the plant in Greater Noida will boost SAEL's total module manufacturing capacity to 8.5 GW. Construction is expected to begin this year. The move aligns with India's push to localise solar manufacturing. From June 2026, only domestically made solar cells from approved manufacturers will be allowed in government projects. India currently has 80 GW of module manufacturing capacity but about 15 GW of cell capacity, with most modules relying on Chinese imports. SAEL operates assets capable of generating more than 6.7 GW of solar power, including operational and constructional projects, and aims to drive that to 10 GW in three years. The company has already raised more than $2.4 billion in equity and debt, and has issued a $305-million green bond in 2024. "By 2030, tentatively, we are looking at a power generation capacity of around 18 to 20GW as an independent power producer," Laxit Awla, CEO of SAEL Industries, told Reuters. The company also plans to file for an initial public offering this year, Awla said, declining to share more details about the timing and size of the IPO. SAEL's revenue from its biomass and independent power production business nearly doubled to ₹687 crore in fiscal 2025 from fiscal 2023. The company aims to grow its revenue from these businesses to ₹3,094 crore by fiscal year 2027.
Time of India
14-07-2025
- Business
- Time of India
Indian clean energy firm SAEL to invest $954 million in solar manufacturing plant
Indian renewable energy firm SAEL Industries Ltd will invest 82 billion rupees ($954.04 million) to build a 5-gigawatt (GW)-per-year integrated solar cell and module manufacturing facility in the northern state of Uttar Pradesh, the company said on Monday. Through one of the largest investments seen so far in the solar manufacturing space in India, the plant in Greater Noida will boost SAEL's total module manufacturing capacity to 8.5 GW. Construction is expected to begin this year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo The move aligns with India's push to localise solar manufacturing. From June 2026, only domestically made solar cells from approved manufacturers will be allowed in government projects. India currently has 80 GW of module manufacturing capacity but about 15 GW of cell capacity, with most modules relying on Chinese imports. Live Events SAEL operates assets capable of generating more than 6.7 GW of solar power, including operational and constructional projects, and aims to drive that to 10 GW in three years. The company has already raised more than $2.4 billion in equity and debt, and has issued a $305-million green bond in 2024. "By 2030, tentatively, we are looking at a power generation capacity of around 18 to 20GW as an independent power producer," Laxit Awla, CEO of SAEL Industries, told Reuters. The company also plans to file for an initial public offering this year, Awla said, declining to share more details about the timing and size of the IPO. SAEL's revenue from its biomass and independent power production business nearly doubled to 6.87 billion rupees in fiscal 2025 from fiscal 2023. The company aims to grow its revenue from these businesses to 30.94 billion rupees by fiscal year 2027.
Time of India
14-07-2025
- Business
- Time of India
Clean energy firm SAEL to invest $954 million in solar manufacturing plant
Renewable energy firm SAEL Industries Ltd will invest 82 billion rupees ($954.04 million) to build a 5-gigawatt (GW)-per-year integrated solar cell and module manufacturing facility in the northern state of Uttar Pradesh, the company said on Monday. Through one of the largest investments seen so far in the solar manufacturing space in India, the plant in Greater Noida will boost SAEL's total module manufacturing capacity to 8.5 GW. Construction is expected to begin this year. The move aligns with India's push to localise solar manufacturing. From June 2026, only domestically made solar cells from approved manufacturers will be allowed in government projects. India currently has 80 GW of module manufacturing capacity but about 15 GW of cell capacity, with most modules relying on Chinese imports. SAEL operates assets capable of generating more than 6.7 GW of solar power, including operational and constructional projects, and aims to drive that to 10 GW in three years. The company has already raised more than $2.4 billion in equity and debt, and has issued a $305-million green bond in 2024. "By 2030, tentatively, we are looking at a power generation capacity of around 18 to 20GW as an independent power producer," Laxit Awla, CEO of SAEL Industries, told Reuters. The company also plans to file for an initial public offering this year, Awla said, declining to share more details about the timing and size of the IPO. SAEL's revenue from its biomass and independent power production business nearly doubled to 6.87 billion rupees in fiscal 2025 from fiscal 2023. The company aims to grow its revenue from these businesses to 30.94 billion rupees by fiscal year 2027.
Business Recorder
14-07-2025
- Business
- Business Recorder
Indian clean energy firm SAEL to invest $954mn in solar manufacturing plant
Indian renewable energy firm SAEL Industries Ltd will invest 82 billion rupees ($954.04 million) to build a 5-gigawatt (GW)-per-year integrated solar cell and module manufacturing facility in the northern state of Uttar Pradesh, the company said on Monday. Through one of the largest investments seen so far in the solar manufacturing space in India, the plant in Greater Noida will boost SAEL's total module manufacturing capacity to 8.5 GW. Construction is expected to begin this year. The move aligns with India's push to localise solar manufacturing. From June 2026, only domestically made solar cells from approved manufacturers will be allowed in government projects. India currently has 80 GW of module manufacturing capacity but about 15 GW of cell capacity, with most modules relying on Chinese imports. SAEL operates assets capable of generating more than 6.7 GW of solar power, including operational and constructional projects, and aims to drive that to 10 GW in three years. The company has already raised more than $2.4 billion in equity and debt, and has issued a $305-million green bond in 2024. 'By 2030, tentatively, we are looking at a power generation capacity of around 18 to 20GW as an independent power producer,' Laxit Awla, CEO of SAEL Industries, told Reuters. The company also plans to file for an initial public offering this year, Awla said, declining to share more details about the timing and size of the IPO. SAEL's revenue from its biomass and independent power production business nearly doubled to 6.87 billion rupees in fiscal 2025 from fiscal 2023. The company aims to grow its revenue from these businesses to 30.94 billion rupees by fiscal year 2027.
United News of India
30-05-2025
- 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
