SAEL Solar MHP1 Private Limited, a subsidiary of SAEL Industries Limited, has secured $132 million in debt financing for the development of a solar power project in Andhra Pradesh. The funding has been provided equally by three international financial institutions: the Asian Infrastructure Investment Bank, New Development Bank, and Societe Generale.
Each financial institution reportedly committed an amount of $44 million towards the debt financing of the project. The total investment will be directed towards the implementation and operational phase of the project. Additionally, the project was awarded through a competitive bidding process conducted by the Solar Energy Corporation of India.
In May 2025, SAEL Industries Limited announced plans to set up a solar cell manufacturing facility in Greater Noida, Uttar Pradesh, with an estimated annual capacity of 5 GW and a reported investment of Rs 50 billion.
