SECI Attains Navratna Status

• 02 Sep 2024

On 30th August, 2024, Solar Energy Corporation of India Ltd (SECI), a leading Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy, has awarded Navratna status by the Ministry of Finance.

• SECI, established 13 years ago, plays a crucial role in expanding India's Renewable Energy (RE) capacity, with a cumulative generation awarded capacity of 69.25 GW.
• The company has achieved an annual power trading volume exceeding 42 billion units, positioning itself as the foremost Renewable Energy Implementing Agency (REIA) in India.
• SECI reported a consolidated annual turnover of ₹13,118.68 crore in the Financial Year 2023-24, marking a 20.85% increase over the previous year.
• The company also registered a Profit After Tax (PAT) of ₹510.92 crore, reflecting a growth of 34.89% during the same period.
• Attaining Navratna status grants SECI enhanced autonomy in financial and operational matters, enabling it to accelerate its growth with improved agility, a broader geographical presence, and a focus on advanced technologies.
• This achievement underscores the Indian government's commitment to transitioning towards sustainable energy sources.