The Sustainable and Affordable Energy for Life (SAEL) Industries Limited has announced plans to establish a solar cell manufacturing facility in Greater Noida, Uttar Pradesh. The upcoming facility is projected to have an annual capacity of 5 GW of solar cell production, with an estimated total investment of Rs 50 billion, reportedly.
The facility will mark SAEL’s entry into solar cell production. Additionally, the company may also consider manufacturing other components such as wafers and ingots, depending on domestic demand and policy incentives.
Furthermore, SAEL is preparing for an initial public offering (IPO) within the next 12 months and has appointed merchant bankers to facilitate the process. While other funding options like private equity and private placement are also under consideration, the company is primarily focusing on the IPO due to favourable market conditions.
