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SECI Achieves Landmark 50 GW in Power Sale Agreements, Paving the Way for Renewable Energy Growth

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Representational image. Credit: Canva

In a significant achievement, the Solar Energy Corporation of India (SECI), a prominent Miniratna Category-I Central Public Sector Enterprise operating under the Ministry of New & Renewable Energy, has reached a remarkable milestone by signing Power Sale Agreements (PSAs) totaling an aggregate capacity of 50 GW. SECI, acting as an intermediary procurer, has been at the forefront of promoting and developing various renewable energy resources, particularly focusing on solar energy, wind energy, renewable energy-based storage systems, and power trading.

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SECI’s latest accomplishments include the signing of a 690 MW Wind Power PSA with Uttar Pradesh Power Corporation Limited and 500 MW Solar Power PSAs under the ISTS Solar Tranche VIII with Tamil Nadu Generation and Distribution Corporation Limited. Additionally, the company has entered into a long-awaited Power Usage Agreement with Gujarat Urja Vikas Nigam Limited, securing 700 MW of Solar Power under the CPSU Scheme.

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Notably, SECI is not only a key player in facilitating renewable energy agreements but has also become the nation’s largest renewable energy trader. Holding a Category 1 power trading license, the company actively engages in trading power generated from solar, wind, hybrid, real-time capacity (RTC), and bundling of surplus energy savings schemes projects. SECI’s role as a nodal agency for implementing various Ministry of New & Renewable Energy schemes underscores its crucial contribution to India’s renewable energy landscape.

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Furthermore, SECI is diversifying its portfolio by venturing into cutting-edge technologies and renewable energy-based products such as green hydrogen, green ammonia, and renewable energy-powered electric vehicles. This news reaffirms SECI’s commitment to advancing the nation’s renewable energy goals and facilitating its transition towards a greener and more sustainable energy future.

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