Renewable energy company SAEL raises $132-M

New Delhi-based SAEL Solar MHP1 (a subsidiary of SAEL Industries) has raised US 132 million from Asian Infrastructure Investment Bank (AIIB), New Development Bank (NDB) and Societe Generale in the form of debt funding. The investors invested USD 44 million each through a competitive auction.The fresh funding will be used by the company for development of clean energy infrastructure in Andhra Pradesh.Founded in 1989, SAEL is an renewable energy company specializing in solar and waste to energy projects. It also provides decarbonization solutions. The company currently operates over 20 solar projects across multiple states in more than 50 sites.