SAEL Solar MHP1, a wholly owned subsidiary of SAEL Industries Limited, has secured a total of USD132 million in debt funding from the Asian Infrastructure Investment Bank (AIIB), the New Development Bank (NDB), and Societe Generale for the development of a solar power project in Andhra Pradesh.
Each institution has committed USD44 million to support the execution and operationalisation of the project. The project was awarded through a competitive auction conducted by the Solar Energy Corporation of India Limited.