SAEL Industries Plans Rs 8,000 Crore Solar Facility in Uttar Pradesh

SAEL Industries is investing approximately Rs 8,000-8,200 crore to build a state-of-the-art solar manufacturing facility in Greater Noida, Uttar Pradesh, which will include a 5 GW solar cell manufacturing unit and a 5 GW solar module manufacturing line, increasing its total solar manufacturing capacity to 8.5 GW. The project, supported by Uttar Pradesh Chief Minister Yogi Adityanath, aligns with the state's aggressive renewable energy goals and aims to strengthen India's domestic solar supply chain by reducing reliance on imports. The facility will produce advanced TOPCon solar cells, known for their high efficiency, which will be assembled into panels onsite. SAEL Industries, which already operates over 6.7 GW of solar power assets in India, plans to begin construction this year and is targeting significant expansion in solar power generation capacity, with plans to reach up to 20 GW by 2030. The company, backed by substantial funding including a $305-million green bond, also intends to launch an IPO and aims to increase revenues sharply in the coming years. This investment represents a major step in India's solar manufacturing capabilities and the broader transition to clean energy.