SAEL Industries has finalized long-term power purchase agreements (PPAs) for solar projects totaling 880 MW across Gujarat and Punjab, further reinforcing the country’s renewable energy drive.
In Gujarat, two of the company’s subsidiaries—SAEL Solar P Sixteen and SAEL Solar P Seventeen—have tied up with Gujarat Urja Vikas Nigam Ltd (GUVNL) for 480 MW of solar capacity. This covers an initial allotment of 240 MW and an additional 240 MW awarded under the greenshoe provision. The projects are expected to be commissioned within two years, supplying power at a tariff of Rs 2.56 per kWh kWh for a 25-year term.
Meanwhile, in Punjab, subsidiary SAEL Solar P15 has signed a PPA with Punjab State Power Corporation Ltd (PSPCL) for a 400 MW solar project. This facility, also slated to be completed within 24 months, will deliver electricity at Rs 2.97 per kWh under a similar 25-year contract.
With these agreements, SAEL Industries is set to expand its footprint in the clean energy sector, adding significant solar capacity across two key states.