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Daily News Analysis

SOLAR ENERGY CORPORATION OF INDIA LIMITED

21st September, 2022 International Relations

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Context: 

The 11th Foundation Day Celebration of Solar Energy Corporation of India Limited (SECI) was held.

Details:

  • Solar Energy Corporation of India ltd" (SECI) is a CPSU under the administrative control of the Ministry of New and Renewable Energy (MNRE), set up on 20th Sept, 2011 to facilitate the implementation of NSM and achievement of targets set ther
  • It is the only CPSU dedicated to the solar energy sector. 
  • It was originally incorporated as a section-25 (not for profit) company under the Companies Act, 1956.
  • However, through an amendment by Government of India, the company has been converted into a Section-3 company, in 2015, under the Companies Act, 2013
  • The mandate of the company has also been broadened to cover the entire renewable energy domain.
  • In the present outlook of the RE sector, SECI has a majorrole to play in the sector’s development. The company is one of the nodal agency for implementation of a number of schemes of MNRE.
  • In addition, SECI has ventured into solar project development on turnkey basis for several PSUs/Government departments.
  • The company also has a Category 1 power trading license and is active in this domain through trading of solar powerfrom projects set up under the schemes being implemented by it.

https://www.pib.gov.in/PressReleasePage.aspx?PRID=1860875

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