SAEL Solar MHP1, a subsidiary of SAEL Industries, has secured debt financing worth USD 132 million (approx. Rs 1,100 crore) from three international financial institutions—Asian Infrastructure Investment Bank (AIIB), New Development Bank (NDB), and Societe Generale.

Each institution has committed USD 44 million towards the development of a solar power project in Andhra Pradesh, awarded through a competitive auction by the Solar Energy Corporation of India (SECI). The funding will support the execution and operationalization of the project, aligning with India’s renewable energy goals and promoting clean energy infrastructure in the region.

Societe Generale India’s CEO, Katan Hirachand, emphasied the bank’s commitment to supporting sustainable solutions that benefit both communities and the national energy ecosystem. SAEL Industries operates across solar and agri waste-to-energy sectors, with a 6.5 GW solar IPP portfolio across India. It also runs 3.5 GW solar module manufacturing facilities using advanced TOPCon technology. Its agri waste-to-energy operations process about two million tonne of agricultural residue annually via 11 plants across Punjab, Haryana, and Rajasthan, helping mitigate pollution and support circular energy practices.