New Delhi: Solar Energy Corporation of India Limited (SECI), a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy (MNRE), has signed its annual performance-based Memorandum of Understanding (MoU) with MNRE for the financial year 2026-27. Under the agreement, the Government of India has set SECI a revenue from operations target of ₹24,000 crore for the financial year.
The MoU was signed at Atal Akshay Urja Bhawan in New Delhi by Santosh Kumar Sarangi, Secretary, MNRE, and Joshit Sikidar, Director (Finance), SECI. Senior officials from both organisations were present at the signing ceremony.
The agreement outlines performance targets across several key areas, including renewable energy trading, administrative ministry priorities, capital expenditure, project execution and return on net worth. These targets are intended to guide SECI’s performance and operational priorities during FY 2026-27.
SECI and MNRE Sign Annual Performance MoU for FY27
The annual performance-based MoU establishes key targets and performance parameters for SECI for the 2026-27 financial year. As a Navratna public sector enterprise under MNRE, SECI plays a significant role in supporting the development and expansion of renewable energy in India.
The agreement was signed by MNRE Secretary Santosh Kumar Sarangi and SECI Director (Finance) Joshit Sikidar at Atal Akshay Urja Bhawan, New Delhi, in the presence of senior officials from both organisations.
The MoU provides a framework for assessing SECI’s performance against the targets set by the government across financial and operational parameters.
Government Sets ₹24,000 Crore Revenue Target for SECI
Under the MoU, SECI has been assigned a revenue from operations target of ₹24,000 crore for FY 2026-27.
In addition to the revenue target, the agreement establishes performance benchmarks across several important areas:
- Renewable energy trading: Targets related to SECI’s renewable energy trading activities.
- Administrative Ministry priorities: Performance commitments aligned with MNRE’s priorities.
- Capital expenditure: Targets relating to planned capital expenditure.
- Project execution: Benchmarks for implementing and executing projects.
- Return on net worth: Financial performance parameters linked to returns on the company’s net worth.
These parameters will help assess SECI’s financial performance, project implementation and progress towards its organisational objectives during the financial year.
SECI Reaffirms Commitment to Renewable Energy Growth
Joshit Sikidar, Director (Finance), SECI, expressed confidence in the company’s growth trajectory and its ability to build on its performance record.
He said SECI remained committed to strengthening its role in the development of India’s renewable energy sector. Alongside its core activities, the company would continue to expand its presence in new and emerging areas to support the country’s clean energy ambitions.
The statement highlights SECI’s focus on sustaining growth while contributing to India’s broader renewable energy development objectives.
MoU to Guide SECI’s Financial and Operational Performance
The performance-based MoU sets out the financial and operational expectations for SECI during FY 2026-27. The ₹24,000 crore revenue target, together with benchmarks for renewable energy trading, capital expenditure and project execution, provides a framework for monitoring the company’s progress throughout the year.
The agreement also links SECI’s performance with the priorities of its administrative ministry, MNRE, reinforcing the company’s role in supporting government initiatives in the renewable energy sector.
About Solar Energy Corporation of India Limited (SECI)
Solar Energy Corporation of India Limited (SECI) is a Navratna Central Public Sector Enterprise under the Ministry of New and Renewable Energy, Government of India. It plays a key role in promoting renewable energy development through activities such as renewable energy project facilitation, power trading and support for the implementation of India’s clean energy initiatives.
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