Green Giant SAEL Secures $1 Billion Funding for Clean Energy Surge

Renewable energy firm SAEL has successfully secured a substantial investment of USD one billion from various esteemed financial institutions, including Norfund, DFC, ADB, and Tata Cleantech. The achievement of forging these strategic partnerships and attaining financial closure was officially announced at a notable event in New Delhi.

The substantial investment is earmarked for advancing the expansion of SAEL's solar and biomass projects. Simultaneously, the company aims to leverage the market potential and government initiatives in the renewable energy sector. DFC, recognizing the significance of its investment in SAEL, foresees positive contributions towards reducing particulate matter and augmenting renewable energy capacity.

Looking ahead, SAEL has outlined ambitious plans to accomplish a capital expenditure of Rs 15,000 crore in FY25. The company also commits to executing 2-2.5 GW of renewable capacity annually, with the ultimate goal of reaching a formidable 10 GW within the next four years.

Specializing in solar and waste-to-energy projects, SAEL is poised to utilize these partnerships to deliver sustainable energy solutions across India. This strategic collaboration positions SAEL as a key player in advancing the country's renewable energy landscape.

News by Rahul Yelligetti