Latest news with #LaxitAwla
Yahoo
2 days ago
- Business
- Yahoo
SAEL Industries to invest $954m in solar manufacturing facility
SAEL Industries plans to invest Rs82bn ($954m) to establish a 5GW-per-year integrated solar cell and module manufacturing facility at Greater Noida in the Indian state of Uttar Pradesh, one of the largest investments in India's solar manufacturing segment. This move will increase SAEL's total module production capacity to 8.5GW, as reported by Reuters. The plant's construction will commence in 2025. The new facility also aligns with India's initiative for self-reliance in solar manufacturing. From June 2026, only locally produced cells from certified manufacturers can be used in government projects. India has an 80GW module production capability, and around 15GW of cell capacity. It is dependent on module imports from China. SAEL manages assets that can produce more than 6.7GW of solar power, encompassing both operational and construction projects. The company has set an ambitious goal to increase this capacity to 10GW by 2028. To support its growth, SAEL has raised $2.4bn through equity and debt financing. In 2024, it issued a $305m green bond. SAEL Industries CEO Laxit Awla stated: "By 2030, tentatively, we are looking at a power generation capacity of around 18 to 20GW as an independent power producer.' Awla told Reuters that the company intends to file for an initial public offering in 2025, but shared no further details about the timing and size of the IPO. SAEL reported that its revenue from biomass and independent power production almost doubled from the fiscal year 2023 (FY23) to Rs6.87bn in FY25. The company targets to increase revenues from these segments to Rs30.94bn by FY27. "SAEL Industries to invest $954m in solar manufacturing facility" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
2 days ago
- Business
- Business Standard
SAEL to invest ₹8,200 cr in Greater Noida solar manufacturing plant
Indian renewable energy firm SAEL Industries Ltd will invest ₹8,200 crore ($954.04 million) to build a 5-gigawatt (GW)-per-year integrated solar cell and module manufacturing facility in the northern state of Uttar Pradesh, the company said on Monday. Through one of the largest investments seen so far in the solar manufacturing space in India, the plant in Greater Noida will boost SAEL's total module manufacturing capacity to 8.5 GW. Construction is expected to begin this year. The move aligns with India's push to localise solar manufacturing. From June 2026, only domestically made solar cells from approved manufacturers will be allowed in government projects. India currently has 80 GW of module manufacturing capacity but about 15 GW of cell capacity, with most modules relying on Chinese imports. SAEL operates assets capable of generating more than 6.7 GW of solar power, including operational and constructional projects, and aims to drive that to 10 GW in three years. The company has already raised more than $2.4 billion in equity and debt, and has issued a $305-million green bond in 2024. "By 2030, tentatively, we are looking at a power generation capacity of around 18 to 20GW as an independent power producer," Laxit Awla, CEO of SAEL Industries, told Reuters. The company also plans to file for an initial public offering this year, Awla said, declining to share more details about the timing and size of the IPO. SAEL's revenue from its biomass and independent power production business nearly doubled to ₹687 crore in fiscal 2025 from fiscal 2023. The company aims to grow its revenue from these businesses to ₹3,094 crore by fiscal year 2027.
Time of India
2 days ago
- Business
- Time of India
Indian clean energy firm SAEL to invest $954 million in solar manufacturing plant
Indian renewable energy firm SAEL Industries Ltd will invest 82 billion rupees ($954.04 million) to build a 5-gigawatt (GW)-per-year integrated solar cell and module manufacturing facility in the northern state of Uttar Pradesh, the company said on Monday. Through one of the largest investments seen so far in the solar manufacturing space in India, the plant in Greater Noida will boost SAEL's total module manufacturing capacity to 8.5 GW. Construction is expected to begin this year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo The move aligns with India's push to localise solar manufacturing. From June 2026, only domestically made solar cells from approved manufacturers will be allowed in government projects. India currently has 80 GW of module manufacturing capacity but about 15 GW of cell capacity, with most modules relying on Chinese imports. Live Events SAEL operates assets capable of generating more than 6.7 GW of solar power, including operational and constructional projects, and aims to drive that to 10 GW in three years. The company has already raised more than $2.4 billion in equity and debt, and has issued a $305-million green bond in 2024. "By 2030, tentatively, we are looking at a power generation capacity of around 18 to 20GW as an independent power producer," Laxit Awla, CEO of SAEL Industries, told Reuters. The company also plans to file for an initial public offering this year, Awla said, declining to share more details about the timing and size of the IPO. SAEL's revenue from its biomass and independent power production business nearly doubled to 6.87 billion rupees in fiscal 2025 from fiscal 2023. The company aims to grow its revenue from these businesses to 30.94 billion rupees by fiscal year 2027.
Time of India
2 days ago
- Business
- Time of India
Clean energy firm SAEL to invest $954 million in solar manufacturing plant
Renewable energy firm SAEL Industries Ltd will invest 82 billion rupees ($954.04 million) to build a 5-gigawatt (GW)-per-year integrated solar cell and module manufacturing facility in the northern state of Uttar Pradesh, the company said on Monday. Through one of the largest investments seen so far in the solar manufacturing space in India, the plant in Greater Noida will boost SAEL's total module manufacturing capacity to 8.5 GW. Construction is expected to begin this year. The move aligns with India's push to localise solar manufacturing. From June 2026, only domestically made solar cells from approved manufacturers will be allowed in government projects. India currently has 80 GW of module manufacturing capacity but about 15 GW of cell capacity, with most modules relying on Chinese imports. SAEL operates assets capable of generating more than 6.7 GW of solar power, including operational and constructional projects, and aims to drive that to 10 GW in three years. The company has already raised more than $2.4 billion in equity and debt, and has issued a $305-million green bond in 2024. "By 2030, tentatively, we are looking at a power generation capacity of around 18 to 20GW as an independent power producer," Laxit Awla, CEO of SAEL Industries, told Reuters. The company also plans to file for an initial public offering this year, Awla said, declining to share more details about the timing and size of the IPO. SAEL's revenue from its biomass and independent power production business nearly doubled to 6.87 billion rupees in fiscal 2025 from fiscal 2023. The company aims to grow its revenue from these businesses to 30.94 billion rupees by fiscal year 2027.
Business Recorder
2 days ago
- Business
- Business Recorder
Indian clean energy firm SAEL to invest $954mn in solar manufacturing plant
Indian renewable energy firm SAEL Industries Ltd will invest 82 billion rupees ($954.04 million) to build a 5-gigawatt (GW)-per-year integrated solar cell and module manufacturing facility in the northern state of Uttar Pradesh, the company said on Monday. Through one of the largest investments seen so far in the solar manufacturing space in India, the plant in Greater Noida will boost SAEL's total module manufacturing capacity to 8.5 GW. Construction is expected to begin this year. The move aligns with India's push to localise solar manufacturing. From June 2026, only domestically made solar cells from approved manufacturers will be allowed in government projects. India currently has 80 GW of module manufacturing capacity but about 15 GW of cell capacity, with most modules relying on Chinese imports. SAEL operates assets capable of generating more than 6.7 GW of solar power, including operational and constructional projects, and aims to drive that to 10 GW in three years. The company has already raised more than $2.4 billion in equity and debt, and has issued a $305-million green bond in 2024. 'By 2030, tentatively, we are looking at a power generation capacity of around 18 to 20GW as an independent power producer,' Laxit Awla, CEO of SAEL Industries, told Reuters. The company also plans to file for an initial public offering this year, Awla said, declining to share more details about the timing and size of the IPO. SAEL's revenue from its biomass and independent power production business nearly doubled to 6.87 billion rupees in fiscal 2025 from fiscal 2023. The company aims to grow its revenue from these businesses to 30.94 billion rupees by fiscal year 2027.
