29 Apr 2024
Waste-to-energy company SAEL plans to expand its operations with a major investment of up to Rs 35,000 crore over the next two and a half years, aiming to increase its total capacity to 10 GW across its diverse energy sectors, the company's Chief Investment Officer, Varun Gupta, said.
Currently, SAEL claims a renewable capacity of 6,500 MW, with a wide portfolio that includes ground-mounted solar projects, agricultural waste energy conversion, solar module manufacturing, and construction through its EPC business. “Given our already significant capacity, our primary focus has been on the construction of our projects,” Gupta further added.
Gupta outlined the financial strategy for the company's ambitious expansion. “By December 2025, we expect to spend approximately Rs 18,000 crore on the expansion of our current committed capacity of 4 GW. This follows a successful $1 billion fundraising effort that we closed in January 2024. We are now gearing up for another billion-dollar capital raise combining both debt and equity, scheduled for June 2024," he said.
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