During FY 22-23, SECI sees a 59% increase in RE power trading

More than 35 BU (billion units) of renewable energy had been traded by Solar Energy Corporation of India Limited (SECI), an increase of more than 59% in volume over the previous year. Similarly, energy trading revenues have exceeded the Rs.100 billion level for the first time since the inception. Suman Sharma, MD, commented on the achievement, saying: "India is witnessing an energy transition to sustainable resources at an unprecedented pace and SECI is committed to making the maximum contribution to the nation's journey to 500 GW of non-fossil fuel by 2030, as announced by the Prime Minister. SECI's management and staff are working non-stop to achieve this goal."

Established in 2011, the Solar Energy Corporation of India Limited is a Miniratna Category-I Central Public Sector Enterprise (CPSE). To meet India's international obligations, it serves as the Ministry of New and Renewable Energy's primary executive agency for renewable energy plans and projects. More than 56 GW of renewable energy (RE) project opportunities have been awarded by SECI to date. In addition, SECI works as a project management consultant (PMC) for other organizations in the public sector and for its own investments in project design. ICRA has given SECI its highest credit rating, AAA.