New Delhi: Solar Energy Corporation of India Ltd (SECI), a Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy, has been granted Navratna status as of 30th August 2024 by the Ministry of Finance.
Celebrating its 13th year of incorporation, SECI has emerged as a leading CPSE dedicated to the development and expansion of renewable energy capacity in India. The company has awarded a cumulative generation capacity of 69.25 GW and achieved an annual power trading volume exceeding 42 billion units. SECI stands as India's foremost Renewable Energy Implementing Agency (REIA), playing a critical role in advancing climate goals and promoting sustainable development.
In the financial year 2023-24, SECI posted a consolidated annual turnover of Rs. 13,118.68 crore, marking a 20.85% increase over the previous year. The company also recorded a Profit After Tax (PAT) of Rs. 510.92 crore, reflecting a 34.89% growth.
The Navratna classification grants SECI enhanced autonomy in financial and operational matters, which is expected to accelerate the company’s growth through improved agility, expanded geographical presence, and a stronger focus on technology. This milestone underscores the government’s commitment to India’s transition towards sustainable energy. /BI
