Solar Energy Corporation of India Ltd. (SECI)

Solar Energy Corporation of India Ltd. Latest News

Reliance NU Suntech recently signed a 25-year Power Purchase Agreement with the Solar Energy Corporation of India, to develop and commission Asia’s largest single-location integrated solar and battery energy storage system (BESS) project.

About Solar Energy Corporation of India Ltd

• It is the leading Central Public Sector Undertaking (CPSU) dedicated to the development and expansion of Renewable Energy (RE)capacity in India.
• It is the only CPSU dedicated to the renewable energy sector.
• SECI was incorporated in 2011 as a not-for-profit company (Sec. 25 of the Companies Act, 1956) and converted to a commercial company in 2015 (Sec. 3 of the Companies Act, 2013).
• It was established to facilitate the implementation of the National Solar Mission. 
• It is under the administrative control of the Ministry of New and Renewable Energy (MNRE).
• It has been accorded the status of Miniratna Category-I CPSU.
• SECI serves as an implementing agency for the development of Solar, Wind, and Hybrid Projects as part of fulfilling the country’s Nationally Determined Contributions (NDCs).
  • To achieve this, SECI releases tenders for selection of Renewable Energy (RE) developers for the establishment of projects on a pan-India or state-specific basis. 
  • The selection process for successful bidders is conducted through a tariff-based competitive e-bidding procedure. 
  • Once selected, SECI enters into a 25-year Power Purchase Agreement (PPA) with the chosen bidders for the procurement of power from these projects. 
  • Further, SECI establishes back-to-back 25-year Power Sale Agreements (PSA) with DISCOMs/buying entities for the saleof the procured power. 
• Procuring Power:
  • SECI is a Category-I (highest) Power Trading Licensee for trading power on a pan-India basis. 
  • It is the intermediary power procurer for projects being set up through SECI tenders. 
  • It procures power from successful developers under its tenders and sells it to buying entities (i.e. DISCOMs) through long0term PPAs and PSAs, respectively. 
  • SECI is a premier trader of renewable energy power in the country.
• Providing Consultancy Services to other entities: SECI also offers Project Management Consultancy in the Renewable Energy sector to Public Sector/Government entities, including Feasibility Studies, Bid process Management, Construction Monitoring and Management, Commissioning, etc.
• SECI now oversees a massive 65.3 GW of awarded generation capacity.
  • Out of this, more than 60%—over 40 GW—is solar energy.
  • The remaining capacity includes 16.3 GW of wind energy and about 9 GW of hybrid energy projects.

Source: MINT

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