SAEL to Invest ₹8,200 Cr in Greater Noida Solar Plant Expansion

• SAEL to build ₹8,200 cr solar plant in Greater Noida
• Total module capacity to rise to 8.5 GW
• IPO planned as revenue targets ₹3,094 cr by FY27

SAEL Industries Ltd, a leading player in renewable energy in India, has announced a massive ₹8,200 crore (approx. $954 million) investment for a 5-gigawatt-per-year integrated manufacturing facility for solar cells and modules at Greater Noida in Uttar Pradesh.

This will mark one of the highest investments in India's solar manufacturing sector till date and increase SAEL's capacity for solar module production to a total of 8.5 GW. Construction of the new plant is scheduled to start later this year.

This move is part of India's larger plan to strengthen domestic solar manufacturing. Beginning in June 2026, the government will require the use of locally made solar cells on all solar projects with government financial support. The expansion of SAEL puts it in a strong position in order to meet that demand.

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Currently, SAEL manages solar assets with a total generating capacity of over 6.7 GW of which some are operational and some are under construction. SAEL plans to grow this total generating capacity to 10 GW in the next three years. Going forward, SAEL is looking to have an overall generation capacity of 18–20 GW by 2030 according to CEO Laxit Awla.

SAEL has successfully raised over $2.4 billion in the form of equity and debt financing, which includes a $305 million green bond issued in FY24. Awla also noted that the company plans to file for an IPO later this year, although he did not provide additional details.

The company's biomass and independent power generation businesses have performed strongly, with revenues almost doubling over two fiscal years from FY23 to ₹687 crore in FY25, and forecasts anticipate revenues growing further to ₹3,094 crore into FY27 as it builds its clean energy generation capacity.