New Delhi: The Solar Energy Corporation of India Ltd (SECI), a leading Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy, has been granted Navratna status by the Ministry of Finance. This prestigious classification, achieved on SECI’s 13th anniversary, will provide the company with greater financial and operational autonomy, further accelerating its growth in India’s renewable energy sector.
With a cumulative awarded renewable energy generation capacity of 69.25 GW and an annual power trading volume exceeding 42 billion units, SECI has solidified its position as India’s foremost Renewable Energy Implementing Agency (REIA). The company’s continuous efforts to enhance India’s renewable capacity are in alignment with the nation’s ambitious climate goals and commitment to sustainable development.
SECI has reported impressive financial growth for the 2023-24 fiscal year, posting a consolidated annual turnover of Rs. 13,118.68 crore, marking a 20.85% increase compared to the previous year. Its Profit After Tax (PAT) stood at Rs. 510.92 crore, reflecting a 34.89% growth. These figures underscore SECI’s role as a key player in driving India’s transition to clean energy.
With the Navratna status, SECI is now poised to enhance its geographical presence, adopt cutting-edge technologies, and operate with greater agility. This milestone signifies a significant step in the government’s broader strategy to transition India towards a sustainable energy future.
The status will also allow SECI to undertake larger projects, expand its operational scope, and contribute even more significantly to the country’s renewable energy targets.