India bio-economy updates from BioBiz
- SAEL, an Indian renewable energy company, has secured $1 billion from financial institutions, including Norfund, DFC, Asian Development Bank (ADB), and Tata Cleantech, to finance its biomass and solar energy portfolio.
- The company said it will use the funding to expand its solar and biomass projects, capitalizing on the conducive market potential and government schemes in the renewable energy sector.
- SAEL plans to complete capital expenditure of INR 15,000 crore in FY 2025 and execute 2-2.5 GW of renewable capacity every year to reach its 10 GW target in the next four years.
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