Solar Energy Corporation of India Gets ‘Miniratna Category-I’ Status  

SECI's Announces NIT for 800 MW RTC Power

The Ministry of New and Renewable Energy (MNRE), in its latest communication, said that the Solar Energy Corporation of India Limited (SECI) had been accorded the status of Miniratna Category-I Central Public Sector Enterprise (CPSE) status on April 10, 2023.

SECI, an arm of the MNRE, is the primary project implementing agency formed on September 20, 2011. The government body helps implement several large and medium-scale renewable energy projects nationwide. As per the latest data, SECI has awarded renewable energy projects of capacity up to 56 Gigawatt (GW). SECI establishes its project through investments and works for other public sector units as Project Management Consultant (PMC).

Suman Sharma, Managing Director, SECI, said that SECI had achieved this feat in a short time, owing to its consistent performance, speed, and flexibility in operations. 

“SECI has played a central role in the rapid increase of RE generation capacity in the country and has contributed towards the nation’s climate commitments, carbon emission reduction strategies, and sustainable energy transition.” The MD further reaffirmed SECI’s commitment towards achieving the Prime Minister’s ‘Panchamrita’ targets and to be an integral part in achieving the 500 GW of non-fossil fuel-based capacity by 2030.

According to the government norms, Miniratna Category-I status is granted to CPSEs that have made a profit in the last three years continuously, have a pre-tax profit is Rs.30 crores or more in at least one of the three years, and have a positive net worth.

SECI is the only CPSE dedicated to the renewable energy sector. It was originally incorporated as a section-25 (not-for-profit) company under the Companies Act of 1956. “However, through an amendment by the Government of India, the company was converted into a Section-3 company, in 2015, under the Companies Act, 2013. The company’s mandate has also been broadened to cover renewable energy. The company also has a Category 1 power trading license and is active in this domain through trading of solar power from projects set up under the schemes being implemented by it,” SECI claims on its website.