NEW DELHI, Apr 13: SAEL, a firm that converts agricultural waste into  clean energy, is gearing up for a public listing within the next 12 months, its CEO Laxit Awla said.

  The company is in the process of identifying merchant bankers to manage its maiden public issue.

Speaking about the planned public issue, Awla told PTI that the proceeds from the IPO will be utilized to scale up SAEL’s operations, with a focus on expanding its cell manufacturing capabilities, Independent Power Producer (IPP) business, and waste-to-energy initiatives.

Awla highlighted that SAEL is the world’s only 100 per cent paddy-based biomass waste-to-energy operator and the largest single industrial offtaker of paddy straw globally.

Through its 11 biomass plants spread across Punjab, Haryana, and Rajasthan totalling 165MW of installed capacity, the company processes nearly 2 million tonne of agricultural waste annually, he said.

This conversion results in clean and reliable green power, helping to combat air pollution, improve public health, and support sustainable livelihoods for thousands of farmers and rural communities, he added.

In addition to its agri-based waste-to-energy operations, SAEL is also active in the solar energy sector. It has rapidly expanded its presence as a leading solar IPP, amassing a portfolio of more than 6 GW of solar energy projects across India, including both operational and under-construction assets.

To support this growing generation capacity, SAEL has significantly ramped up its solar module manufacturing. The company recently achieved a production capacity of 3.3 GW in high-efficiency TOPCon solar modules, manufactured across two facilities– 3,000 MW in Kishangarh, Rajasthan, and 300 MW in Ferozepur, Punjab.

Looking ahead, Awla shared the company’s ambitious target of scaling its renewable energy capacity to 10 GW within the next three years. SAEL also plans to diversify its manufacturing business through deeper backward integration, further strengthening its position in the clean energy ecosystem.

As part of its broader growth strategy, the company is actively exploring opportunities to expand its operations into new geographies globally.

In 2024,  SAEL debuted a USD 305 million Green Bond issuance on the Singaporean stock exchange. The offering, rated BB+ by Fitch, was oversubscribed more than six times,  reflecting strong investor confidence in the company’s business model and its role in advancing renewable energy.  (PTI)