SECI Achieves “Excellent” Rating and Navratna Status: A Milestone Year in Renewable Energy Growth

Solar Energy Corporation of India Ltd (SECI) has been awarded an “Excellent” rating for its performance under the Memorandum of Understanding (MoU) with the Ministry of New & Renewable Energy (MNRE) for the financial year 2023-24. SECI achieved a score of 96 out of 100, demonstrating its commitment to operational efficiency and strong corporate governance standards.

As a leading Central Public Sector Enterprise, SECI plays a crucial role in the growth of renewable energy in India. By December 31, 2024, the company had awarded a cumulative renewable energy generation capacity exceeding 73 GW. SECI is recognized as India’s top Renewable Energy Implementing Agency (REIA), contributing significantly to the nation’s climate goals and sustainable development agenda.

In FY 2023-24, SECI reported notable achievements. Its annual trading volume rose by 22.13%, with 42.935 billion units traded. The company also recorded a total income of ₹13,135.80 crore, marking a growth of 20.91% compared to the previous year. Additionally, SECI achieved a Profit After Tax (PAT) of ₹436.03 crore, reflecting a significant 38.13% growth.

On August 30, 2024, SECI was awarded the prestigious Navratna status by the Ministry of Finance, further solidifying its position as a key player in India’s renewable energy sector.