SAEL Expands Renewable Footprint with 880 MW Solar PPAs

SAEL Industries has signed power purchase agreements (PPAs) for a total of 880 MW of solar capacity across Gujarat and Punjab, reinforcing its role in India’s growing renewable energy sector.

In Gujarat, subsidiaries SAEL Solar P Sixteen and SAEL Solar P Seventeen signed a PPA with Gujarat Urja Vikas Nigam Ltd. (GUVNL) for 480 MW (AC) of solar photovoltaic (PV) capacity — comprising an initial 240 MW allocation and an additional 240 MW under the greenshoe option. The project is expected to be commissioned within 24 months, with GUVNL agreeing to purchase power at ₹2.56 per kWh for a 25-year term.

In Punjab, SAEL Solar P15 signed a PPA with Punjab State Power Corporation Ltd. (PSPCL) for a 400 MW (AC) solar PV project, also set for completion within 24 months. PSPCL will procure power at a tariff of ₹2.97 per kWh over 25 years.

These agreements mark a significant milestone in advancing clean energy infrastructure in both states, contributing to India’s broader sustainability and energy security goals.

News by Rahul Yelligetti.