+
During FY 22-23, SECI sees a 59% increase in RE power trading
POWER & RENEWABLE ENERGY

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

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.

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.

Related Stories

Gold Stories

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Next Story
Infrastructure Transport

UP Approves Two Expressways And Rs 240 bn Infrastructure Push

The Uttar Pradesh Cabinet approved a series of infrastructure and industrial investment proposals totalling Rs 240 billion (Rs 240 bn), including two major expressway projects, a manufacturing and logistics cluster in Sultanpur and incentives for 11 industrial projects across the state. The decisions, taken at a meeting chaired by Chief Minister Yogi Adityanath, underline the state government’s focus on expanding road connectivity around emerging industrial hubs while attracting manufacturing investment to districts beyond major urban centres. The approvals cover both greenfield expressway c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code