SAEL to set up 5 GW solar cell plant in Greater Noida

SAEL Industries Limited has announced plans to establish a solar cell manufacturing facility in Greater Noida, Uttar Pradesh. The facility will have an annual production capacity of 5 GW and is expected to attract an investment of around Rs 50 billion.

This marks SAEL’s entry into solar cell manufacturing. The company may also expand into production of wafers and ingots, based on market demand and policy support.

SAEL is also preparing for an initial public offering (IPO) within the next 12 months. Merchant bankers have been appointed to manage the process. While other funding options, such as private equity and private placemen,t are being evaluated, the company is currently prioritising the IPO due to favourable market conditions.