SAEL Secures PPAs for 880 MW Solar Initiatives in Gujarat and Punjab
SAEL has signed two PPAs for solar photovoltaic power projects with a combined capacity of 880 MW (AC), including 400 MW in Punjab and 480 MW in Gujarat.
August 18, 2025. By News Bureau
In Gujarat, SAEL, through its subsidiaries SAEL Solar P Sixteen Pvt. Ltd. and SAEL Solar P Seventeen Pvt. Ltd. has signed a PPA with Gujarat Urja Vikas Nigam Ltd. (GUVNL) for a total capacity of 480 MW (AC) of solar photovoltaic (PV) power projects. This includes 240 MW initially allocated and an additional 240 MW awarded under the greenshoe option. The solar project is expected to achieve Scheduled Commercial Operation within 24 months from the PPA signing. GUVNL will procure the solar power at a tariff of 2.56 per kilowatt-hour (kWh) for 25 years.
Whereas, in Punjab, SAEL Solar P15 Pvt. Ltd. has signed a PPA with the Punjab State Power Corporation Ltd. (PSPCL) for a 400 MW (AC) solar PV power project. Under the terms of the agreement, the solar power project will be developed in the state and is expected to be fully operational within 24 months from the signing of the agreement. PSPCL will purchase the solar power generated by the project at a tariff of 2.97 kWh for 25 years.
Commenting on the achievements, Laxit Awla, Chief Executive Officer and Director, SAEL Industries Ltd., said, “The agreements with GUVNL and PSPCL reflect our long-term vision of contributing towards India’s clean energy future through large-scale, time-bound, and advanced technology renewable energy projects. These projects will not only support India’s renewable energy and decarbonisation goals but also stimulate local development and job creation.”
SAEL’s renewable energy portfolio includes solar IPP assets with a capacity of 6.5 plus GW, supported by its vertically integrated solar module manufacturing capabilities of 3.5 plus GW, which leverage TOPCon technology.
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