SECI Records 59% Rise in RE Power Trading, Revenue Crosses Rs 10,000 Cr For The First Time

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The Solar Energy Corporation of India (SECI) Monday said it recorded a 59 percent jump in the renewable energy power trading volume in Financial Year 2022-23. The arm of the Ministry of New and Renewable Energy (MNRE), in a media release, said that it traded over 35 Billion Units (BU) during the period.

It also reported a revenue crossing the Rs 10,000 crore mark for the first time since its inception in 2011. Suman Sharma, MD, said, “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.”

SECI recently was also granted the Miniratna Category-I Central Public Sector Enterprise (CPSE) tag by the Indian government. It is the primary implementing agency of the Ministry of New and Renewable Energy for Renewable Energy schemes/projects toward the fulfillment of India’s international commitments.

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SECI has awarded Renewable Energy (RE) project capacities of over 56 GW to date. SECI is also actively setting up projects through its investments and for other public sector entities as Project Management Consultant (PMC). As a result, SECI enjoys the highest credit rating of AAA by ICRA.