Made in India Solar: SAEL's Massive 8,200 Crore Investment

SAEL Industries, a leading renewable energy company in India, will invest ₹8,200 crore (₹954.04 crore) to establish a five-gigawatt (GW) per year integrated solar cell and module manufacturing plant in Greater Noida, Uttar Pradesh.

This facility—among the largest in India’s solar manufacturing sector—will boost SAEL’s total module production capacity to 8.5 GW, supporting the country’s drive for domestic solar manufacturing. Construction is scheduled to begin later this year.

The expansion aligns with upcoming government regulations requiring that, from June 2026, only domestically manufactured solar cells from approved vendors can be used in government-backed projects.

Currently operating over 6.7 GW of solar power assets, SAEL plans to expand its capacity to 10 GW within three years and to 18–20 GW by 2030, according to CEO Laxit Awla. The company has secured over USD 2.4 billion in equity and debt financing, including a USD 305 million green bond issued in 2024, and is preparing to launch an IPO later this year.

News by Rahul Yelligetti.