SAEL Bags USD 132 Million Global Investment for Andhra Solar Project – Asia Pacific

SAEL Industries secures USD 132 million from AIIB, NDB, and Societe Generale to develop a solar power project in Andhra Pradesh, reinforcing India’s push toward clean energy and sustainability.

May 31, 2025. By EI News Network

Clean energy company SAEL Industries Ltd. has secured a USD 132 million debt investment from three major global financial institutions to support its solar power project in Andhra Pradesh.

The funding comes through SAEL Solar MHP1 Pvt. Ltd., a subsidiary of SAEL Industries, and includes equal commitments of USD 44 million each from the Asian Infrastructure Investment Bank (AIIB), the New Development Bank (NDB), and Societe Generale. The project was awarded via a competitive bidding process conducted by the Solar Energy Corporation of India (SECI).

The capital will go towards the development and operational rollout of the project, supporting both Andhra Pradesh’s clean energy ambitions and India’s broader renewable energy targets.

“This marks a major milestone in SAEL’s journey as we push forward in delivering sustainable energy solutions that are critical to India’s low-carbon future,” said Laxit Awla, CEO of SAEL Industries. “The backing from these global institutions is a strong endorsement of our technical and financial capabilities,” he added.

Dr. Katan Hirachand, CEO of Societe Generale India, added, “By backing this project, we reaffirm our commitment to enabling clean energy solutions that benefit both local communities and India’s growing green energy ecosystem.”

As per the firm, SAEL Industries currently holds a 6.5+ GW portfolio of solar Independent Power Producer (IPP) assets across India, including both operational and under-construction projects. The company also operates 3.5 GW of solar module manufacturing capacity based on advanced TOPCon technology.

In addition to solar, SAEL runs an agricultural waste-to-energy business that processes around 2 million tonnes of crop residue annually across 11 facilities in Punjab, Haryana, and Rajasthan. The initiative not only generates energy but also addresses the pressing issue of stubble burning and pollution in northern India.

With in-house capabilities spanning Engineering Procurement and Construction (EPC), Operations and Maintenance (O&M), and manufacturing, SAEL positions itself as a fully integrated renewable energy player aiming to accelerate India’s energy transition.

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