From pv magazine India
SAEL Industries, an integrated renewable energy company, has signed two PPAs for 880 MW (AC) of PV projects, including 400 MW in Punjab and 480 MW in Gujarat. These projects will add to SAEL’s solar individual power production portfolio.
In Gujarat, SAEL, through its subsidiaries SAEL Solar P Sixteen and SAEL Solar P Seventeen, signed a PPA with Gujarat Urja Vikas Nigam Ltd. (GUVNL) for 480 MW (AC) of solar PV projects. The deal includes 240 MW initially allocated and another 240 MW awarded under the greenshoe option. The project is scheduled to achieve commercial operation within 24 months of the PPA signing. GUVNL will procure the power at a tariff of INR 2.56/kWh for 25 years.
In Punjab, SAEL Solar P15 signed a PPA with Punjab State Power Corp. Ltd. (PSPCL) for a 400 MW (AC) solar project. The project will be developed in the state and is expected to be fully operational within 24 months of the signing. PSPCL will purchase the power at a tariff of INR 2.97/kWh for 25 years.
SAEL Industries is an integrated renewable energy company with operations in agri waste-to-energy, utility-scale solar, and solar module manufacturing. Its portfolio includes more than 7.7 GW of solar IPP assets across India, 8.5 GW of tunnel oxide passivated contact (TOPCon) solar module assembly, 5 GW of upcoming TOPCon solar cell capacity, and 165 MW of agri waste-to-energy projects.
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