Sustainable and Affordable Energy for Life (SAEL) Industries Limited has announced its significant intention to establish a substantial 5 GW solar cell manufacturing facility in Greater Noida, Uttar Pradesh. 

This ambitious project involves an estimated investment of Rs 50 billion, marking SAEL’s strategic and significant entry into the critical solar cell production sector. 

In addition to the large-scale manufacturing of solar cells, the company is also actively considering the production of other related components within this extensive new facility, indicating a comprehensive approach to the solar energy value chain.

Furthermore, SAEL is preparing for an initial public offering (IPO) within the next 12 months and has appointed merchant bankers to facilitate the process. 

While other funding options like private equity and private placement are also under consideration, the company is primarily focusing on the IPO due to favourable market conditions.