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Company News: Companies Analysis, Updates & Insights | The HinduBusinessLine

Boiler blast at Vedanta plant in Chhattisgarh kills 11, injures 22 Madhya Pradesh CM says basmati rice from the State is exported to 47 nations IMD forecast of below-normal Indian monsoon poses risk to agriculture, economy Sify data centre arm IPO on track and will be timed with market conditions, says CFO BALCO deploys AI humanoid agent for real-time training, operations and safety Funskool clocks $40 million revenue in FY26, despite tariff headwinds Val-Met Engineering secures ₹200 crore funding from Nuvama Crossover Opportunities Funds BEML secures $36.38 million export order from West Asia region Chitale Bandhu Mithaiwale to inaugurate new production facility near Pune NCLT allows personal guarantee case against Videocon promoter Dhoot No immediate impact of US blocking Iranian vessels on India’s crude cargoes Indian spacetech startups shift gears from R&D to scalable manufacturing Protest by factory workers in Noida, Faridabad turns violent Sharon Pais takes over as Head of Myntra Nadir Godrej to retire as chairperson, Pirojsha Godrej named successor APAC emerges as growth engine amid data sovereignty push: IBM’s Hans Dekkers Unicharm India expands Diabetes Care portfolio Sarovar Hotels sees traction in tier II cities, pilgrimage towns Motherson Sumi Wiring says no impact on operations amid Noida labour protests Aster DM Healthcare invests ₹96 cr to expand Aster Whitefield by 159 beds Ola Electric launches S1 X+ 5.2 kWh with 4680 Bharat Cells India’s active LED display market hits ₹2,000 crore China’s TCL is said to consider stake sale in India TV business Strengthening R&D, investment key for Indian drugmakers to lead globally: Nadda Piper Serica deploys ₹210 crore in 33 start-ups; to invest remaining ₹63 crore in 2-3 months NCLAT adjourns hearing on Vedanta plea against selection of Adani's bid for JAL GE Aerospace signs contract with Indian Air Force to help establish in-country depot for F404-IN20 engines RateGain launches AI-driven hotel marketing certification programme Q4 Results This Week: HDFC Bank, ICICI Bank, Wipro, Just Dial among 42 companies reporting GE Aerospace scales AI from pilots to production; India anchors global capability
SAEL commissions ₹3,000-crore solar power projects in AP
BL Hyderabad Bureau · 2026-05-22 · via Company News: Companies Analysis, Updates & Insights | The HinduBusinessLine

SAEL Industries has commissioned 600 MW AC solar power projects in Rayalaseema in 11 months after signing a pact with the State Government with an investment of ₹3,000 crore.

These are one of the first large-scale renewable energy projects to be completed under the state’s Integrated Clean Energy Policy 2024.

The projects were formally inaugurated by Nara Lokesh, AP Minister for Information Technology, Electronics & Communications, Real Time Governance and Human Resources Development in Kurnool on Friday. 

The projects comprise two 300 MW AC solar facilities developed by SAEL subsidiaries, SAEL Solar MHP1 Pvt Ltd and SAEL Solar MHP2 Pvt Ltd, across nearly 2,400 acres in Kurnool district.

The projects were completed in a record 11 months, reinforcing Andhra Pradesh’s emerging reputation for speed-driven industrial execution and investor-friendly governance. The facilities will supply renewable power directly to the national grid under 25-year Power Purchase Agreements (PPAs) with the Solar Energy Corporation of India (SECI), supporting India’s long-term clean energy transition, while strengthening the country’s renewable power capacity.

The projects are expected to offset nearly 11 lakh tonnes of carbon dioxide emissions annually and deploy more than 12 lakh advanced TOPCon bifacial solar modules, the majority of which were assembled at SAEL’s manufacturing facilities in Punjab and Rajasthan.

Speaking at the inauguration, M Nara Lokesh said Andhra Pradesh is rapidly emerging as a national hub for renewable energy, green manufacturing, storage technologies, and future-ready industrial ecosystems.

“We are ensuring projects are commissioned at speed and scale. Andhra Pradesh is building a globally competitive clean energy ecosystem that will power industries, data centres, manufacturing clusters, and India’s broader energy transition,” Lokesh said.

Sukhbir Awla, Co-Founder and Director, SAEL Industries, said Andhra Pradesh has become a key growth engine in India’s renewable energy transition and continues to inspire long-term investor confidence in clean energy infrastructure.

Laxit Awla, CEO & Executive Director, SAEL Industries Ltd, said the successful commissioning of the projects within an accelerated timeline reflected the company’s execution strength and the proactive support extended by the State Government, according to a release.

Published on May 22, 2026