Solar Energy Corporation of India Limited (SECI)

Solar Energy Corporation of India Limited (SECI)

The Solar Energy Corporation of India Limited (SECI), established on September 20, 2011, is a premier central public sector undertaking under India's

Ministry of New and Renewable Energy (MNRE)

. Initially a non-profit, it was converted into a commercial company in 2015. SECI is the primary nodal agency for facilitating renewable energy capacity, notably driving India's National Solar Mission (NSM) and large-scale solar auctions.

Key Historical Milestones

• 2011: Incorporated as a Section-25 company under the Companies Act, 1956, to facilitate

  JNNSM

  
  targets.
• 2013: Issued its first solar tender under

  NSM Phase II

  
  .
• 2015: Converted into a commercial company (Section-3) under the

  Companies Act, 2013

  
  , following profit-making status. Its mandate was widened to cover all renewable energy (RE) sources.
• 2016: Introduced competitive bidding for wind energy and commissioned its first company-owned 10 MW solar project in

  Rajasthan

  
  .
• 2018: Introduced the

  Hybrid RE model

  
  .
• 2020s: Shifted focus to larger tenders including solar-wind hybrid, storage-based projects, and green hydrogen.
• 2024 (August): Granted "Navratna" status. [1, 3, 5, 6, 7]

Key Achievements and Role

• Project Awarding: As of 2023, SECI has awarded over

  56 GW

  
  of renewable energy project capacities.
• Developer & Trader: Beyond tendering, SECI operates as a developer and power trader, improving the financial viability of projects, holding a  AAA credit rating
  
  by ICRA.
• Key Projects: Played a pivotal role in establishing large-scale solar parks like Bhadla and Pavagada
  
  .
• Turnaround: Transformed into a profit-making entity since 2014-15, showing consistent growth.