SAEL Industries, a leading Indian renewable energy company, will invest Rs 82 billion (Rs 954.04 crore) to set up a five-GW per year integrated solar cell and module manufacturing plant in Greater Noida, Uttar Pradesh.

The project, one of the largest in India’s solar manufacturing sector, will increase SAEL's total module manufacturing capacity to 8.5 GW, reinforcing India’s push for domestic solar production. Construction of the plant is set to begin this year. The expansion aligns with government policies mandating that from June 2026, only domestically produced solar cells from approved manufacturers will be eligible for government projects.

SAEL operates over 6.7 GW of solar power assets and plans to expand its generation capacity to 10 GW in three years and 18-20 GW by 2030, said Laxit Awla, CEO of SAEL Industries. The company has raised over USD 2.4 billion in equity and debt, including a USD 305-million green bond in 2024, and plans to file for an IPO this year.