SECI Achieves 'Excellent' Rating, Cumulative Awarded RE Capacity Surpasses 73 GW

The Solar Energy Corporation of India Ltd (SECI) has earned an 'Excellent' rating for its performance under the Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE) for the financial year 2023-24.

As per the firm's statement, the corporation achieved an impressive score of 96 out of 100, underscoring its strong commitment to operational excellence and adherence to high standards of corporate governance.

It further added that  SECI has significantly contributed to the growth of the nation’s renewable energy capacity, with a cumulative awarded generation capacity surpassing 73 GW by December 31, 2024. SECI continues to be the premier Renewable Energy Implementing Agency (REIA), consistently advancing India’s climate goals and promoting sustainable development.

For the fiscal year 2023-24, SECI reported a substantial 22.13 percent increase in its annual trading volume, totaling 42.935 billion units traded. The corporation also saw a marked rise in its financial performance, recording a total income of INR 13,135.80 Crore, reflecting a robust growth of 20.91 percent over the previous year. SECI’s Profit After Tax (PAT) reached INR 436.03 Crore, marking an impressive growth of 38.13 percent.

On August 30, 2024, SECI was further recognised for its accomplishments when it was granted Navratna status by the Ministry of Finance, a significant milestone in the company's growth trajectory.