IPO-bound SAEL Industries has commissioned a 1 gigawatt peak capacity solar power plant at the Khavda renewable energy park in Gujarat, strengthening its footprint in India’s utility-scale clean energy segment.
Long-Term Power Supply Agreement in Place
The project operates under a 25-year power purchase agreement with Gujarat Urja Vikas Nigam Ltd. The electricity generated from the plant will support Gujarat’s nonstop power supply objective, according to the company.Large-Scale Deployment Across 3,600 Acres
The solar project spans approximately 3,600 acres and is equipped with over 15 lakh TOPCon series bifacial solar modules. More than 60 percent of these modules were assembled internally at SAEL Industries’ manufacturing facilities located in Punjab and Rajasthan, reflecting the company’s integrated manufacturing capabilities.Project Executed Through Dedicated Subsidiaries
The plant has been developed through two subsidiaries, SAEL Solar P4 Private Limited and SAEL Solar P5 Private Limited, as part of the group’s focused expansion in utility-connected solar power generation.Strong Renewable Energy Portfolio
SAEL Industries operates across agri waste-to-energy, utility-scale solar power, and solar module manufacturing. The company currently holds a solar independent power producer portfolio exceeding 8.3 gigawatts across multiple locations in India.IPO Plans on the Horizon
The commissioning of the Khavda project comes as SAEL Industries prepares for its proposed initial public offering, under which the company aims to raise ₹4,575 crore to support future growth initiatives.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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