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

Tags: Economy/Finance National News

Solar Energy Corporation of India Limited (SECI) has been accorded the status of Miniratna Category-I Central Public Sector Enterprise (CPSE) on10th April, 2023. 

An overview of the news

• Its formal announcement has been issued by the Ministry of New and Renewable Energy, Government of India.

• SECI has achieved this feat in a short span of time due to its consistent performance, mobility and flexibility in operations.

• SECI has played a central role in the rapid addition of RE generation capacity in the country and has contributed to the country's climate commitments, carbon reduction strategies and sustainable energy transition.

• It is making steady progress towards achieving the Prime Minister's 'Panchamrit' goals and achieving 500 GW non-fossil fuel based non-fossil fuel based capacity by 2030.

Solar Energy Corporation of India Limited (SECI)

• It is a Central Public Sector Undertaking (CPSU) under the administrative control of the Ministry of New and Renewable Energy (MNRE), set up on 20th Sept, 2011.

• It is the only CPSU dedicated to the Solar Energy Sector.

• The company holds Category 1 Power Trading Licence and is active in this domain through trading of Solar Energy from the projects set up under the schemes being implemented by it.

• So far, SECI has awarded renewable energy (RE) project capacity of over 56 GW.

• SECI enjoys the highest credit rating of AAA by ICRA.

• Managing Director - Suman Sharma