Latest news with #TOPCon
Hans India
3 days ago
- Business
- Hans India
SAEL secures $132 million from global lenders for 300 MW solar project in Andhra Pradesh
SAEL has announced a major financing milestone, with its subsidiary SAEL Solar MHP1 securing $132 million in debt funding for a 300 MW solar power project in Andhra Pradesh. The funding comes equally from three international financial institutions—Asian Infrastructure Investment Bank (AIIB), New Development Bank (NDB), and Societe Generale—each contributing $44 million. The project was awarded to SAEL through a competitive bidding process conducted by the Solar Energy Corporation of India (SECI). The secured funds will go toward the development, execution, and commissioning of the solar facility. Laxit Awla, CEO of SAEL Industries Ltd., remarked, 'This funding marks a significant step for SAEL as we continue to build on our commitment to clean and sustainable energy. The backing from these reputed global institutions validates our technical expertise and financial capability to deliver utility-scale renewable projects.' Echoing the sentiment, Katan Hirachand, CEO of Societe Generale India, said, 'Our involvement in this project aligns with our goal to support transformative energy solutions that benefit both communities and India's renewable energy ambitions.' SAEL is a fully integrated renewable energy company, with in-house expertise across engineering, procurement, and construction (EPC), operations and maintenance (O&M), and module manufacturing. The company boasts a 6.5 GW solar project portfolio, both operational and under development, and operates solar module manufacturing units with a combined 3.5 GW capacity, using TOPCon technology. Beyond solar, SAEL is also actively involved in the agri-waste-to-energy sector, operating eleven plants in Punjab, Haryana, and Rajasthan, processing nearly 2 million tonnes of agricultural residue annually. This financing round strengthens SAEL's position as a key player in India's energy transition, pushing the nation closer to its clean energy targets.
United News of India
4 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
4 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 Recorder
5 days ago
- Business
- Business Recorder
Jinko Solar launches Tiger Neo X20 Panel
LAHORE: Jinko Solar, one of the leading solar brands has launched its latest innovation — the Tiger Neo X20 panel — at a ceremony held at a local hotel. In his opening remarks, Faraz Muhammad Khan, Business Development & Sales Manager, emphasized Jinko Solar's global leadership with a presence in over 200 countries and over 350 GW of modules shipped worldwide. 'Jinko has held the #1 global ranking for six consecutive years, and in Pakistan, it remains the most trusted solar brand,' he noted. Shehan Talagala (Sales Director) and Faizan Hashmi (Key Account Head North) introduced the Tiger Neo X20, powered by HOT 3.0 N-type TOPCon technology. The guest speaker Waqas Mossa, Chairman of the Pakistan Solar Association, praised Jinko's continued support for Pakistan's energy goals. 'This launch shows Jinko's dedication to bringing world-class solar solutions and driving the country toward a sustainable, energy-secure future,' he said. Copyright Business Recorder, 2025
Time of India
7 days ago
- Business
- Time of India
British International Investment seeks CCI nod to acquire stake in ReNew Photovoltaics
British International Investment has sought fair trade regulator CCI's clearance to acquire a stake in solar manufacturing firm Renew Photovoltaics . British International Investment (BII) is a development finance institution wholly owned by the UK Government. "The combination relates to an investment by the acquirer (British International Investment) in the target (ReNew Photovoltaics Pvt Ltd) through subscription to securities of the target," a notice filed with the Competition Commission of India (CCI) said on May 21. Renew Photovoltaics is engaged in the manufacturing of solar modules and cells in India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dukung Orang Terkasih Menghadapi Limfoma: Mulai Di Sini Limfoma Baca Undo The parties have clarified that there are no direct horizontal or vertical overlaps between their respective businesses in India. However, some of BII's portfolio companies are active in the solar energy sector in the country. The parties have submitted that the proposed combination will not result in any appreciable adverse effect on competition in India. Live Events To assist the CCI in its review of the proposed combination, the parties said the relevant markets could include the upstream segment for the manufacturing of solar modules and solar cells and the downstream segment for the generation and transmission of solar power in India. Earlier this month, ReNew Energy Global Plc announced that it has secured an investment of Rs 870 crore (around USD 100 million) from British International Investment to accelerate the growth of its solar manufacturing business in India. The investment will be made in ReNew Photovoltaics, the company's dedicated solar manufacturing subsidiary in India. Established in 2021, ReNew Photovoltaics comprises an operational 6.4 GW solar PV module facility and a 2.5 GW solar cell facility, located in Jaipur, Rajasthan, and Dholera, Gujarat. BII's investment will be primarily utilised to grow the business and expand the company's manufacturing capacity through the construction of a new 4 GW TOPCon cell facility in Dholera, Gujarat. Post-expansion, ReNew's total manufacturing capacity will be approximately 6.4 GW of modules and 6.4 GW of cells.
