SECI Issued 8.4 GW Green Project Tenders In 2023-24: Data

FY24 Results: SECI Adds 8,440 MW RE Tenders, Total Capacity Hits 65,317 MW

The Solar Energy Corporation of India Limited (SECI) in its recent statement said that it has been able to issue renewable energy tenders of upto 8440 MW in 2023-24. The central tendering authority recently talked about its annual performance in the last fiscal year. It also declared financial results of the company.

“In FY24, SECI awarded 8440 MW of RE tenders comprising of Solar, Wind and Hybrid power, which brings the cumulative awarded capacity to 65317 MW. There has been an increase in annual trading volume by 22.13% over previous year with 42935 million units of electricity being traded,” it said in a statement.

On a standalone basis, the total Income of the company was Rs 13,135.80 crore as against the previous year figure of Rs 10,864.43 crore, registering an increase of 20.91%.

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SECI has witnessed an increase of 38.14% in Profit After Tax (PAT) by recording Rs 436.03 crore in FY24 as compared to the previous year’s value of Rs 315.65 crore.

On a consolidated basis, the Profit After Tax (PAT) of the group for FY24 was Rs 510.92 crore as against the corresponding previous year PAT of Rs 378.77 crore, registering an increase of 34.89%

The Net Worth of the company stood at Rs 2,811.76 crore as compared to the figure of Rs 2,376.31 crore for the previous year, registering an increase of 18.32%.

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SECI earlier this year, shared its plan to expand itself in the solar thermal space. At India Energy Storage Alliance (IESA)’s event – India Energy Storage Week (IESW) R P Gupta, Chairman and Managing Director of the Solar Energy Corporation of India Limited (SECI) said, “SECI is expected to float a tender for 500 megawatts (MW) of solar thermal capacity by the end of FY25. This will be the first time in India that such a tender would be floated on this scale. The projects under the 500 MW tender will have advanced technology where steam would be generated through heat, and it would also help in running turbines.”