SAEL secures $1 billion capital to fund its renewable energy portfolio
Renewable energy firm SAEL on Tuesday said it has secured USD 1 billion funds from various financial institutions, including Norfund, DFC, ADB, and Tata Cleantech, to finance its renewable energy portfolio.
The investment will be used to expand the company’s solar and biomass projects, capitalising on the conducive market potential and government schemes in the renewable energy sector, a company statement said.
According to the statement, SAEL — an Indian renewable energy company specialising in solar and waste-to-energy projects — announced forging of partnerships and securing financial closure for capital totalling up to USD 1 billion at an event in New Delhi.
