Debt financing
Renewable energy co SAEL raises $1-B from DFC, Norfund, ADB, Tata Cleantech Capital
Delhi-headquartered renewable energy firm SAEL (Sukhbir Agro Energy Ltd) has secured USD 1 Billion from US International Development Finance Corporation (DFC), Norway government-owned Norfund, Asian Development Bank (ADB) and Tata Cleantech Capital, as well as other financial institutions. The investment will be used to expand the company's solar and biomass projects.SAEL plans to complete capital expenditure of INR 15,000 crore in FY25 and execute 2-2.5 GW renewable capacity every year to reach its 10 GW target in the next four years.In April 2023, SAEL secured INR 1,325 crore (USD 176 million) through AA rated bonds to institutional investors, including Tata Cleantech Capital and Aseem Infrastructure Finance.
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