Solar Energy Corporation of India Ltd attains Navratna Status
On August 30, 2024, the Ministry of Finance granted Navratna status to the Solar Energy Corporation of India Ltd (SECI), a key player in renewable energy under the Ministry of New and Renewable Energy. SECI, celebrating its 13th anniversary, has a generation capacity of 69.25 GW and reported a 20.85% increase in annual turnover for 2023-24. This status enhances SECI’s autonomy and growth potential, supporting India’s sustainable energy transition.
On August 30, 2024, the Ministry of Finance granted Navratna status to Solar Energy Corporation of India Ltd (SECI), a Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy.
Celebrating its 13th anniversary, SECI stands out as a leading CPSE committed to advancing and expanding renewable energy (RE) capacity in India. It boasts a cumulative generation capacity of 69.25 GW and an annual power trading volume exceeding 42 billion units. As India’s primary Renewable Energy Implementing Agency (REIA), SECI is dedicated to achieving climate goals and promoting sustainable development.
For the financial year 2023-24, SECI reported a consolidated annual turnover of Rs. 13,118.68 crore, reflecting a 20.85% increase from the previous year. The company also achieved a Profit After Tax (PAT) of Rs. 510.92 crore, marking a 34.89% growth.
Being classified as a Navratna CPSE provides SECI with greater autonomy in financial and operational matters, which will enhance its growth trajectory through improved agility, expanded geographical reach, and a stronger focus on technology. This recognition underscores the Government’s commitment to India’s transition to sustainable energy.
To read more about Ethanol Industry News, continue reading Agriinsite.com
Source Link : https://bioenergytimes.com/solar-energy-corporation-of-india-ltd-attains-navratna-status/
Recommended for you
