SAEL Commits ₹5,000 Crore for Solar Cell Plant in Uttar Pradesh to Boost Domestic Manufacturing – EQ
In Short : SAEL Industries will invest ₹5,000 crore to establish a 5 GW solar cell manufacturing facility in Greater Noida, Uttar Pradesh. The plant supports India’s push for local solar production, aligning with the upcoming ALMM policy. SAEL also plans an IPO within a year and may expand into wafers and ingots, strengthening its presence in renewable energy manufacturing.
In Detail : SAEL Industries Limited has announced a significant investment of ₹5,000 crore to set up a 5 GW solar cell manufacturing facility in Greater Noida, Uttar Pradesh. This marks the company’s entry into solar cell production and reinforces its commitment to supporting India’s renewable energy goals through local manufacturing.
The new facility will add to SAEL’s existing solar module manufacturing plants located in Rajasthan and Punjab. With this expansion, the company is also evaluating the possibility of manufacturing wafers and ingots in the future, depending on demand trends and government incentives.
This strategic move aligns with India’s Approved List of Models and Manufacturers (ALMM) policy, which will take effect from June 2026. The policy mandates the use of locally sourced solar cells for all government-supported solar projects, aiming to boost domestic production and reduce dependency on imports.
In parallel with its manufacturing plans, SAEL is preparing to launch an initial public offering (IPO) within the next 12 months. The company has appointed merchant bankers and is also exploring funding options such as private equity and private placements to support its growth initiatives.
The investment also supports Uttar Pradesh’s ambitious target to generate 500 GW of solar power by 2030. The state government is actively promoting renewable energy developments, particularly in regions like Bundelkhand and Vindhya, positioning them as emerging solar power hubs.
Through this large-scale project, SAEL is positioning itself as a key player in India’s solar value chain. The Greater Noida facility is expected to play a vital role in meeting rising domestic demand for solar energy components while contributing to the country’s broader energy independence and sustainability targets.
