SAEL Industries has signed power purchase agreements (PPAs) for a combined solar capacity of 880 MW across Gujarat and Punjab, strengthening India’s renewable energy expansion.

According to the company statement, 480 MW will be developed in Gujarat and 400 MW in Punjab. In Gujarat, subsidiaries SAEL Solar P Sixteen and SAEL Solar P Seventeen signed a PPA with Gujarat Urja Vikas Nigam (GUVNL) for 480 MW AC solar photovoltaic (PV) projects. This includes 240 MW initially allocated and another 240 MW awarded under the greenshoe option.

The project is scheduled to be commissioned within 24 months, with GUVNL purchasing power at a tariff of Rs 2.56 per kilowatt-hour (kWh) for 25 years. In Punjab, SAEL Solar P15 entered into a PPA with Punjab State Power Corporation (PSPCL) for a 400 MW AC solar PV project. It is also expected to be fully operational within 24 months, with PSPCL procuring power at Rs 2.97 per kWh for 25 years. These agreements mark a significant step in scaling clean energy capacity across both states.