The Solar Energy Corporation of India (SECI), a state-owned entity, announced that its total awarded renewable energy capacity crossed 73 GW as of December 2024. As the nation’s primary Renewable Energy Implementing Agency (REIA), SECI continues to spearhead India’s clean energy transition, supporting climate goals and sustainable development initiatives.
SECI, a prominent Central Public Sector Enterprise, has played a crucial role in boosting India’s renewable energy landscape. By the end of 2024, its cumulative awarded capacity for renewable energy projects reached over 73 GW. In the 2023-24 financial year, SECI earned an “Excellent” rating from the Ministry of New and Renewable Energy (MNRE) under the Memorandum of Understanding framework, achieving a score of 96 out of 100.
In the financial year 2023-24, SECI achieved notable growth across key performance indicators. The company saw a 22.13% increase in its annual trading volume, with 42.935 billion units of renewable energy traded. This surge in trading volume reflects the expanding demand and SECI’s continued leadership in the renewable energy sector.
Additionally, SECI reported a total income of ₹13,135.80 crore, a 20.91% growth compared to the previous year. The company’s Profit After Tax (PAT) stood at ₹436.03 crore, marking a remarkable 38.13% increase, underscoring its strong financial performance and commitment to driving India’s renewable energy ambitions forward. On August 30, 2024, SECI was awarded the prestigious Navratna status by the Ministry of Finance, further solidifying its position as a key player in India’s renewable energy sector.
The Solar Energy Corporation of India Ltd (SECI) is a key player in India’s renewable energy sector, functioning under the Ministry of New and Renewable Energy (MNRE). Established to facilitate the implementation of the National Solar Mission, SECI has expanded its role to encompass a wide range of renewable energy initiatives, including solar, wind, and hybrid projects. It is also actively involved in promoting emerging technologies such as green hydrogen and energy storage systems. SECI plays a pivotal role in project development, policy advocacy, and facilitating investments, aiming to drive India towards a sustainable and carbon-neutral energy future.
