Reportedly, SAEL Limited is planning to invest Rs 50 billion to set up a 5 GW solar cell manufacturing facility in Greater Noida, Uttar Pradesh.
The company aims to commence implementation in the coming months. The move aligns with the government’s approved list of models and manufacturers policy, which will mandate local sourcing of solar cells from June 2026. SAEL is also exploring manufacturing of wafers and ingots, depending on policy direction and market conditions. The company is preparing for an initial public offering within the next 12 months and has appointed merchant bankers to initiate the process.