About Solar Energy Corporation of India Limited (SECI)

About Solar Energy Corporation of India (SECI) Ltd:

• It is the leading Central Public Sector Undertaking (CPSU) dedicated to the development and expansion of Renewable Energy (RE) capacity in India.
• 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 was incorporated in 2011 as a not-for-profit company (Sec. 25 of Companies Act, 1956) and converted to a commercial company in 2015 (Sec. 3 of the Companies Act, 2013).
• Vision: To build ‘Green India’ through harnessing abundant solar radiation and to achieve energy security for the country.
• It is the only CPSU dedicated to the renewable energy sector.
• 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).
• In addition, SECI has ventured into solar project development on a turnkey basis for several PSUs/Government departments.
• The company also has a 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.
  • Its model involves procuring energy from developers selected through competitive bidding and selling it to electricity distribution companies (DISCOMs) under long-term Power Purchase Agreements (PPAs) and Power Sale Agreements (PSAs).
• It has been accorded the status of Miniratna Category-I CPSU.
• It 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.

Q1: What is a Central Public Sector Enterprise?

A Central Public Sector Enterprise (CPSE) is a government-owned corporation or company in India that is registered under the Companies Act, 1956. These companies are owned and controlled by the Government of India, either wholly or through a majority shareholding.

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