During FY 22-23, SECI sees a 59% increase in RE power trading

25 Apr 2023 CW Team

Over 35 BU (Billion Units) worth of renewable energy power had been traded by Solar Energy Corporation of India Limited (SECI), a rise of more than 59% in volume over the prior year. Similarly, for the first time since it began, the revenue from power trading has surpassed the Rs. 100 billion level. Suman Sharma, MD, commented on the accomplishment by saying, "India is witnessing an energy transition towards sustainable sources at an unprecedented pace and SECI is striving hard to have the maximum contribution in the nation's journey towards 500 GW of non-fossil fuel by 2030, as announced by Prime Minister. The SECI management and staff are working nonstop to achieve this objective.”

Incorporated in 2011, the Solar Energy Corporation of India Limited is a Miniratna Category-I Central Public Sector Enterprise (CPSE). In order to achieve India's international commitments, it serves as the Ministry of New and Renewable Energy's primary implementing agency for renewable energy plans and projects. Over 56 GW worth of Renewable Energy (RE) project capabilities have been awarded by SECI thus far. In addition, SECI works as a project management consultant (PMC) for other public sector organisations as well as for its own investments in project establishment. ICRA has given SECI its highest credit rating, AAA.

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