SAEL secures $132M for 300 MW solar project in Andhra Pradesh

A $132 million loan from AIIB, NDB, and Societe Generale has backed SAEL Solar MHP1’s 300 MW SECI-awarded solar project in Andhra Pradesh.

By Nandini Yelabaka 31 May 2025 in Business Bytes

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SAEL’s solar module manufacturing capacity has reached 3.5 GW using TOPCon-based technologies at its production units. Image Source: SAEL

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.

#AndhraPradesh #SocieteGenerale #AIIB #SAEL

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