SAEL: $132M Funding for Andhra Pradesh Solar Project
- Ltd., a subsidiary of SAEL Industries Ltd., has obtained $132 million in debt financing from the Asian Infrastructure Investment Bank (AIIB), New Growth Bank (NDB), and Societe Generale.
- Each institution committed $44 million to the SAEL solar project, awarded through a competitive auction by the Solar Energy Corporation of India (SECI).
- SAEL's business includes solar and agri waste-to-energy projects across India.
SAEL has secured $132 million for a notable solar power project in Andhra Pradesh, a move that dramatically boosts India’s push for renewable energy. The funding, secured from AIIB, NDB, and Societe Generale, underscores the growing investment in sustainable energy solutions. This initiative, backed by the Solar Energy Corporation of India (SECI), will bolster the infrastructure in Andhra Pradesh. SAEL, renowned for its solar and agri waste-to-energy projects, is poised to amplify its impact. This development highlights the critical role of the primary_keyword “solar project” and, with the project’s funding from diverse institutions, offers a touch of the secondary_keyword “renewable energy capacity.” News Directory 3 notes the vital role of this endeavor contributing to both India’s clean energy goals but also represents a pivotal moment for SAEL Industries. Discover what’s next for this project.
SAEL Lands $132M for Andhra Pradesh Solar Project
Updated June 01, 2025
SAEL Solar MHP1 Pvt. Ltd., a subsidiary of SAEL Industries Ltd., has obtained $132 million in debt financing from the Asian Infrastructure Investment Bank (AIIB), New Growth Bank (NDB), and Societe Generale. The funds will support a solar power project in Andhra Pradesh, contributing to India’s renewable energy capacity.
Each institution committed $44 million to the SAEL solar project, awarded through a competitive auction by the Solar Energy Corporation of India (SECI). The investment aims to facilitate the execution and operationalization of the project, aligning with India’s objectives for renewable energy and the expansion of clean energy infrastructure in Andhra Pradesh.
SAEL’s business includes solar and agri waste-to-energy projects across India. The company has a portfolio of more than 6.5 GW of Solar IPP projects, including operational and under-development assets. SAEL also operates solar module manufacturing facilities with a total capacity of 3.5GW,utilizing TOPCon technology.
These funds represent a major development for SAEL Industries as we continue our efforts to deliver enduring clean energy solutions that facilitate India’s transition to a low-carbon future,” 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.
What’s next
With this funding, SAEL is positioned to significantly contribute to India’s renewable energy targets and promote economic development in Andhra Pradesh through sustainable energy solutions.