SAEL's Green Energy Expansion: From Agricultural Waste to Global Solar Power

SAEL, a leader in converting agricultural waste to clean energy, is planning a public listing within a year. CEO Laxit Awla aims to use the IPO proceeds to expand SAEL's operations in biomass and solar energy sectors. SAEL processes 2 million tonnes of agricultural waste and leads in solar energy projects.

SAEL, a pioneering company converting agricultural waste into clean energy, is gearing up for a public listing in the next 12 months, CEO Laxit Awla announced. The firm is currently selecting merchant bankers to manage its inaugural public issue.

The IPO proceeds will be used to expand SAEL's operations, particularly in cell manufacturing, its Independent Power Producer (IPP) business, and waste-to-energy initiatives. Awla noted that SAEL is the sole fully paddy-based biomass waste-to-energy operator and the largest industrial offtaker of paddy straw.

With 11 biomass plants in Punjab, Haryana, and Rajasthan, SAEL processes around 2 million tonnes of agricultural waste annually, creating clean power and aiding air quality and rural livelihoods. Additionally, the company is active in solar energy, boasting over 6 GW in solar projects across India and a 3.3 GW solar module production capacity.

(With inputs from agencies.)