The state-run Solar Energy Corporation of India (SECI) is set to go public within the next one to two years, aiming to raise funds to further boost the country’s renewable energy capacity, according to the company’s top official.
This announcement comes as India works toward its ambitious goal of reaching 500 GW of renewable energy capacity by 2030. SECI Chairman and Managing Director, R P Gupta, confirmed that the target is on track, but also stressed the need to plan for the future.
“We’re confident about achieving the 500 GW target, but we must look beyond 2030,” Gupta said during a press conference. “By 2047, India’s power demand is projected to hit 2,000 GW.” At present, India has 207 GW of renewable energy capacity.
To meet the 2030 target, the country needs to add at least 50 GW of renewable capacity annually over the next several years. SECI, which plays a central role in tendering renewable energy projects under the Ministry of New & Renewable Energy, plans to list on the stock exchanges to support this aggressive expansion.
Gupta also highlighted SECI’s plans to explore opportunities beyond India, assisting other countries in developing their renewable energy sectors. India’s energy demand has already seen a record peak of approximately 250 GW in May this year, underscoring the urgent need for capacity expansion in the renewable space.
The Solar Energy Corporation of India (SECI) is a pivotal entity established by the Indian government to promote and facilitate the development of solar energy in the country. As a nodal agency, SECI plays a crucial role in implementing various initiatives under the National Solar Mission, aiming to enhance the use of renewable energy sources and reduce dependence on fossil fuels.
The organization is involved in the planning, development, and operationalization of solar power projects, including large-scale solar parks and rooftop solar installations. By fostering partnerships with both domestic and international stakeholders, SECI aims to boost India’s solar capacity, promote energy security, and contribute to the nation’s commitments to sustainable development and climate change mitigation. Through its efforts, SECI is not only supporting the transition to clean energy but also creating employment opportunities and driving economic growth in the renewable energy sector.
