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Solar Energy Corporation attains Navratna Status

Published: Sep 02, 2024

By TIOLCorplaws News Service

NEW DELHI, SEP 02, 2024: SOLAR Energy Corporation of India Ltd (SECI), a Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy has been granted the Navratna status on 30 th August 2024 by the Ministry of Finance.

Completing its 13 years of incorporation, SECI is a leading CPSE dedicated to the development and expansion of Renewable Energy (RE) capacity in India with a cumulative generation awarded capacity of 69.25 GW and an annual power trading volume upwards of 42 Billion Units. SECI is the foremost Renewable Energy Implementing Agency (REIA) of India which is continuously working towards fulfilling climate goals and striving for sustainable development.

The company has posted a consolidated annual turnover of Rs. 13,118.68 Crore registering an increase of 20.85% over the previous year and Profit After Tax (PAT) of Rs 510.92 Crore registering a growth 34.89% in the Financial Year 2023-24.

Classification as a Navratna CPSE enables SECI towards enhanced autonomy in financial and operational matters and will accelerate the company's growth path through better agility, improved geographical presence and technology focus. This is yet another marker of the Government's focus on India's transition towards sustainable energy.

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