Debt

Debt financing

Renewable energy player SAEL Industries raises Rs.754-Cr from ADB

Economic Times  

Asian Development Bank (ADB) has sanctioned an INR 754 crore loan to waste-to-energy player SAEL Industries. The funds will be used to construct five biomass power plants in the districts of Bikaner, Churu, Hanumangarh, Jhunjhunu and Sikar in Rajasthan. As part of a five-year plan, SAEL intends to construct 3.5 gigawatts of green energy capacity. It will add 100 megawatts of new biomass and 600 megawatts of new solar capacity annually over the next four years. The firm has over 600 megawatts of existing power generation capacity, which includes solar and biomass energy plants.

Between Oct-2018 and Jan-2023, SAEL had raised over USD 60 M from Sindicatum and Norfund.