SAEL Industries signed 400 MW solar PPA with PSPCL in Punjab

SAEL Industries, an Indian renewable energy company, have signed a power purchase agreement with Punjab State Power Corporation Limited (PSPCL). The agreement covers a 400 MW solar project in Punjab. The project is planned to start operations within 24 months from signing. PSPCL will buy solar power at ₹2.97 (around $0.34) per kilowatt-hour for 25 years. SAEL currently has 85.5 MW of power generation capacity in Punjab. Out of this, 59.9 MW of solar AC capacity is already under contract with PSPCL. The company also runs agriculture waste-to-energy plants in the state. SAEL said Punjab has good potential for solar energy. The new project will help Punjab grow its renewable energy and reduce reliance on conventional sources.Prior to this agreement, SAEL announced $132 million funding for a 300 MW solar development in Andhra Pradesh.