Solar Energy Corporation of India Limited (SECI)

CalendarToday
timer
1 min read
Prelims: Indian Economy
Solar Energy Corporation of India Limited (SECI) Blog Image

Overview:

Recently, the Solar Energy Corporation of India Limited (SECI) has been accorded the status of Miniratna Category-I Central Public Sector Enterprise (CPSE)

About Solar Energy Corporation of India:·       

  •  It is the primary implementing agency of the Ministry of New and Renewable for Renewable Energy schemes/projects.
  • It was established in the year 2011.
  • It has awarded Renewable Energy (RE) project capacities of over 56 GW.
  • It enjoys the highest credit rating of AAA by ICRA.
  • Criteria for grant of Miniratna status to CPSEs
    • Miniratna Category-I status: The CPSEs which have made a profit in the last three years continuously, with a pre-tax profit is Rs.30 crores or more in at least one of the three years and have a positive net worth are eligible to be considered for grant of Miniratna-I status.
    • Miniratna Category-II status:  The CPSEs which have made a profit for the last three years continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II status.
    • Miniratna CPSEs should have not defaulted in the repayment of loans/interest payments on any loans due to the Government.
    • Miniratna CPSEs shall not depend upon budgetary support or Government guarantees.

 


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.

Source: Solar Energy Corporation of India gets 'Miniratna Category-I' status