IPO-bound SAEL Industries begins 1 gigawatt solar plant at Khavda renewable energy park

New Delhi: IPO-bound SAEL Industries on Thursday said it has commissioned a 1 gigawatt peak capacity solar plant at the renewable energy park at Khavda in Gujarat.

The project has a 25-year power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Ltd (GUVNL). The power will be supplied to support the state's nonstop energy goal, SAEL Industries CEO and Executive Director Laxit Awla said in a statement.

Awla said the project spans a 3,600-acre land parcel and deploys over 15 lakh TOPCon series bifacial modules, more than 60 per cent of which have been assembled in-house at the company's manufacturing facilities located in Punjab and Rajasthan.


The project has been executed through two of its subsidiaries, namely SAEL Solar P4 Private Limited and SAEL Solar P5 Private Limited, the clean energy player said.

SAEL Industries is a renewable energy company with a presence in agri waste-to-energy, utility-connected solar, and solar module manufacturing. The company has a portfolio of over 8.3 GW of solar independent power producer assets across India.

In November 2025, SAEL Industries filed draft papers with markets regulator Sebi to raise Rs 4,575 crore through an initial public offering (IPO).