Norfund Invests Rs. 500 Cr. in Solar, Waste-to-Energy Company, SAEL

Norwegian Climate Investment Fund, which is managed by Oslo-based Norfund, has invested Rs. 500 crore in SAEL, which is a Delhi-based solar and waste-to-energy company. This investment has been made for an undisclosed share in SAEL.

SAEL has a portfolio of 600 MW power generation capacity and over 20 solar and waste-to-energy plants across the country which include operational projects and those under development. The company has a target of achieving 3 GW power generation capacity in the next five years through an annual capacity addition of 400 MW from solar power facilities, and 100 MW through Agri waste-to-energy facilities.