Ahmedabad: SAEL Industries Ltd. (SIL), an integrated renewable energy company, has signed Power Purchase Agreement (PPA) through its subsidiaries – SAEL Solar P Sixteen Private Limited and SAEL Solar P Seventeen Private Limited – with Gujarat Urja Vikas Nigam Limited (GUVNL) for a total capacity of 480 MW (AC) of solar photovoltaic (PV) power project. This includes an initial allocation of 240 MW and an additional 240 MW awarded under the greenshoe option, an official press statement said.

The solar projects will be developed in Gujarat and are expected to achieve Scheduled Commercial Operation up to 24 months from the PPA signing. GUVNL will procure the solar power at a tariff of ₹2.56 per kilowatt-hour (kWh) for a period of 25 years.

Mr. Laxit Awla, CEO of SAEL Industries Ltd., said: “We are honoured to partner with GUVNL in delivering clean and affordable solar power to the people in Gujarat. This project underscores our long-term vision of building a scalable and sustainable energy infrastructure that can contribute towards India’s green energy growth and energy security. At SAEL, we prioritize project execution and are committed to delivering projects in a time-bound manner.”

Gujarat is at the forefront of India’s renewable energy transition, with an installed renewable energy capacity of approximately 35 GW as of 2025. Gujarat Urja Vikas Nigam Limited (GUVNL) has played a pivotal role in this progress by facilitating the integration of renewable energy into the state’s power grid. “SAEL remains committed to fostering a sustainable, future-ready, and resilient energy ecosystem in Gujarat” added Laxit Awla. DeshGujarat