New Delhi: In a landmark achievement for India’s clean energy sector, the Solar Energy Corporation of India Limited (SECI) has executed Power Sale Agreements (PSAs) totaling more than 60 Gigawatts (GW) of renewable energy capacity. The announcement marks a major step forward in the country’s mission to create a low-carbon energy economy and meet its global climate commitments.
SECI, a Navratna Central Public Sector Enterprise under the Ministry of New and Renewable Energy (MNRE), has emerged as a central institution in facilitating India’s transition to sustainable energy since its inception in 2011.
Power Sale Agreements Spanning Solar, Wind, and Hybrid Projects
The 60 GW milestone reflects a diverse portfolio of renewable energy projects, including solar, wind, and hybrid configurations. These PSAs ensure long-term offtake of clean energy, offering payment security to project developers and boosting investor confidence.
Such agreements play a vital role in de-risking renewable energy investments by creating predictable revenue streams, thereby catalyzing capital inflow into India’s growing RE market.
CMD’s Statement: A Strategic Leap Toward Clean Energy Targets
Shri Santosh Kumar Sarangi, Chairman and Managing Director of SECI, emphasized the strategic value of the milestone:
“The signing of 60 GW worth of Power Sale Agreements within just fourteen years of establishment marks a pivotal moment for SECI’s journey. SECI continues to be at the forefront of ensuring that India stays on track to meet its ambitious clean energy targets. We are proud to contribute to the nation’s transition towards a sustainable and low carbon future.”
Next Phase: Storage, Green Hydrogen, and Innovation
Looking ahead, SECI aims to expand its role through-
- Innovative energy storage solutions
- Green hydrogen and green ammonia projects
- Supply chain strengthening
- New models for flexible power supply
These initiatives are designed to deepen energy resilience, create industrial synergies, and advance India’s Nationally Determined Contributions (NDCs) under the Paris Agreement.
About SECI
The Solar Energy Corporation of India (SECI) is a nodal agency under the Ministry of New and Renewable Energy (MNRE), responsible for implementing renewable energy schemes and facilitating large-scale solar and wind energy projects across India. It’s a Navratna Central Public Sector Undertaking (CPSE). SECI plays a key role in power procurement, project development, and auction facilitation to accelerate India’s clean energy transition. It is dedicated to the growth and development of Renewable Energy (RE) in India, particularly in solar energy.
