SECI achieves over 59% growth in renewable energy power trading

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SECI achieves over 59% growth in renewable energy power trading
SECI has achieved a significant growth in renewable energy power trading, contributing to India’s transition towards sustainable sources. SECI is a major implementing agency for Renewable Energy schemes/projects in India, with a credit rating of AAA by ICRA.

India is taking bold steps towards sustainable energy sources, and the Solar Energy Corporation of India Limited (SECI) is playing a crucial role in achieving India’s goal of 500 GW of non-fossil fuel by 2030. In this article, we discuss SECI’s remarkable growth in renewable energy power trading and its significant contribution to India’s transition towards sustainable sources.

1. SECI achieves a significant growth in renewable energy power trading The Solar Energy Corporation of India Limited (SECI) has recorded a remarkable growth of over 59% in its Renewable Energy power trading volume during the FY 2022-23, trading over 35 billion units (BU) compared to the previous year. It is also worth noting that the revenue generated from power trading has crossed the Rs. 10,000 crore mark for the first time since its establishment.

2. India’s transition towards sustainable sources Ms. Suman Sharma, MD of SECI, expressed that India is currently witnessing a fast-paced transition towards sustainable energy sources, and SECI is striving hard to have the maximum contribution in achieving India’s goal of 500 GW of non-fossil fuel by 2030, as announced by the Hon’ble Prime Minister. The entire team of employees and management of SECI is tirelessly working towards this goal.

3. SECI’s role in renewable energy projects SECI is a Miniratna Category-I Central Public Sector Enterprise (CPSE) established in 2011, and is the primary implementing agency of the Ministry of New and Renewable Energy for Renewable Energy schemes/projects in India. Till date, SECI has awarded Renewable Energy (RE) project capacities of over 56 GW, and it is also active in setting up projects through its own investments as well as for other public sector entities as Project Management Consultant (PMC). It is worth noting that SECI has been given the highest credit rating of AAA by ICRA.

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