A subsidiary of SAEL Industries Ltd, SAEL Solar MHP1  has secured $132 million in debt financing for a 300 MW solar project in Andhra Pradesh. The funding received from AIIB, NDB, and Societe Generale, with each contributing $44 million. The project was allocated through a SECI-conducted competitive bidding process. SAEL’s portfolio includes solar and agri-waste-to-energy operations, with a reported 6.5 GW in solar capacity and eleven biomass plants in Punjab, Haryana, and Rajasthan. The company also operates solar module manufacturing units using TOPCon technology.