During FY 22-23, SECI sees a 59% increase in RE power trading
POWER & RENEWABLE ENERGY

During FY 22-23, SECI sees a 59% increase in RE power trading

Over 35 BU (Billion Units) worth of renewable energy power had been traded by Solar Energy Corporation of India Limited (SECI), a rise of more than 59% in volume over the prior year. Similarly, for the first time since it began, the revenue from power trading has surpassed the Rs. 100 billion level. Suman Sharma, MD, commented on the accomplishment by saying, "India is witnessing an energy transition towards sustainable sources at an unprecedented pace and SECI is striving hard to have the maximum contribution in the nation's journey towards 500 GW of non-fossil fuel by 2030, as announced by Prime Minister. The SECI management and staff are working nonstop to achieve this objective.”

Incorporated in 2011, the Solar Energy Corporation of India Limited is a Miniratna Category-I Central Public Sector Enterprise (CPSE). In order to achieve India's international commitments, it serves as the Ministry of New and Renewable Energy's primary implementing agency for renewable energy plans and projects. Over 56 GW worth of Renewable Energy (RE) project capabilities have been awarded by SECI thus far. In addition, SECI works as a project management consultant (PMC) for other public sector organisations as well as for its own investments in project establishment. ICRA has given SECI its highest credit rating, AAA.

Over 35 BU (Billion Units) worth of renewable energy power had been traded by Solar Energy Corporation of India Limited (SECI), a rise of more than 59% in volume over the prior year. Similarly, for the first time since it began, the revenue from power trading has surpassed the Rs. 100 billion level. Suman Sharma, MD, commented on the accomplishment by saying, India is witnessing an energy transition towards sustainable sources at an unprecedented pace and SECI is striving hard to have the maximum contribution in the nation's journey towards 500 GW of non-fossil fuel by 2030, as announced by Prime Minister. The SECI management and staff are working nonstop to achieve this objective.” Incorporated in 2011, the Solar Energy Corporation of India Limited is a Miniratna Category-I Central Public Sector Enterprise (CPSE). In order to achieve India's international commitments, it serves as the Ministry of New and Renewable Energy's primary implementing agency for renewable energy plans and projects. Over 56 GW worth of Renewable Energy (RE) project capabilities have been awarded by SECI thus far. In addition, SECI works as a project management consultant (PMC) for other public sector organisations as well as for its own investments in project establishment. ICRA has given SECI its highest credit rating, AAA.

Next Story
Infrastructure Energy

Sungrow Launches New Energy Storage System at Smart Energy Week 2025

Sungrow, a global leading PV inverter and energy storage system provider, is set to unveil its latest energy storage and power conditioning systems (PCS) at Smart Energy Week [PV EXPO] 2025 at Tokyo Big Sight. The showcase features over 13 state-of-the-art products, including the newly developed water-cooled C&I energy storage system ST510CS-4H, PowerTitan Series grid-scale energy storage system, and JET-certified 5.5kW string inverter SG5.5RS-JP. ST510CS-4H: Next-generation liquid cooling C&I energy storage system At Sungrow's booth, the newly launched ST510CS-4H features its inno..

Next Story
Real Estate

Dubai's Housing Market Soars: 55% More Deals, 44% Sales Value Jump

During the October–December 2024 quarter, Dubai’s residential market recorded 33,110 registered transactions, representing a 55 per cent year-on-year (Y-o-Y) increase compared to the 21,405 transactions recorded during the same period in 2023. This growth in annual activity demonstrates strong buyer interest, while the minor quarterly adjustment indicates a steady, healthy market. The registered home sales value (GTV) for the quarter reached AED 65.23 billion, marking a 44 per cent Y-o-Y increase over the AED 45.45 billion reported in October–December 2023. Average registered home sales ..

Next Story
Technology

Moro Hub Partners with MongoDB to Accelerate Digital Transformation

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC), has announced a strategic partnership with MongoDB to help organisations in the region build the next generation of applications faster by innovating more efficiently and simplifying complex architectures. The partnership was officially signed between Mohammed Bin Sulaiman, CEO of Moro Hub and Boris Bialek, Field CTO of MongoDB, at the Museum of the Future in the emirate of Dubai. This collaboration underscores Moro Hub’s commitment to empower enterprises and government entities. With a..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?