SECI Invites Bank Bids For ₹800 Crore Credit Facilities To Support Expanding Renewable Energy Operations

The Solar Energy Corporation of India Limited (SECI), a Navratna Central Public Sector Enterprise under the Ministry of New and Renewable Energy (MNRE), has invited quotations from Scheduled Commercial Banks for non-fund-based credit facilities worth up to ₹800 crore. The company is seeking support through Letters of Credit (LC), Bank Guarantees (BG), and Standby Letters of Credit (SBLC) to strengthen its financial operations and support its growing renewable energy portfolio.

SECI plays a major role in India’s clean energy sector as a power trading intermediary and renewable energy project developer. As of May 2026, the company had commissioned nearly 34 GW of solar, wind, and hybrid renewable energy capacity across the country. In addition to facilitating large-scale renewable projects, SECI has developed 122 MW of its own capacity and plans to commission another 1,100 MW during the current financial year.

The company’s expanding operations have resulted in significant payment obligations to renewable energy developers. For FY 2026-27, SECI estimates its average monthly payments to project developers at around ₹1,750 crore. These payments are expected to increase further as additional renewable energy projects become operational.

The requirement for fresh credit facilities is also linked to regulatory compliance. Under the Central Electricity Regulatory Commission (CERC) Trading Licensee Regulations, 2020, SECI must maintain valid Letters of Credit in favor of power suppliers to retain its trading margin of ₹0.07 per unit. The regulations require trading companies to maintain LCs equivalent to 1.1 times the average monthly billing amount for long-term contracts. To meet these requirements, SECI has already opened Letters of Credit worth ₹2,254 crore for renewable energy developers. The proposed ₹800 crore facility will help the company provide additional financial guarantees to transmission utilities, government agencies, and other project-related stakeholders.

SECI remains financially strong and continues to report steady growth. The company is fully owned by the Government of India and holds the highest domestic credit rating of AAA (Stable) from CARE Ratings and ICRA. Its revenue from operations increased from ₹13,035 crore in FY 2023-24 to ₹18,447 crore in FY 2025-26. During the same period, its net worth rose to ₹3,778 crore, while Profit After Tax (PAT) reached ₹579 crore.

The proposed facility will initially be valid for one year, with an option for renewal on mutually agreed terms. SECI has clarified that it will not pay any processing, upfront, or documentation fees. If collateral is required, it will be secured through a first pari-passu charge on the company’s book receivables. Interested banks have been asked to submit their sealed proposals to SECI’s New Delhi office by June 26, 2026.