Indian firm SAEL invests heavily in solar manufacturing
SAEL Industries is putting ₹8,200 crore ($954 million) into a massive new solar cell and module factory in Greater Noida, Uttar Pradesh.
This 5GW facility will push their total capacity to 8.5GW and help India hit its target for homegrown solar tech by June 2026.
New plant to help reduce dependence on imports
India's got a big gap—lots of solar panel assembly but not enough cells made here.
SAEL's new plant will make 5GW of cells and modules every year, helping reduce dependence on imports.
The company already runs over 6.7GW of solar projects and wants to reach 10GW soon.
SAEL planning IPO this year; aims for 20GW power generation
SAEL might branch out into making wafers and ingots if the market looks good.
Backed by $2.4 billion (including a $305-million green bond), they're planning an IPO this year.
CEO Laxit Awla is aiming high: he wants up to 20GW of power generation by 2030, with revenue targets jumping from ₹6,870 crore in FY25 to ₹30,940 crore by FY27.