SECI records 59% jump in RE power trading volume in FY2023

SECI earns over Rs 10,000 crore through power trading.

Solar Energy Corporation of India Limited (SECI) has traded over 35 BU (billion units) in its renewable energy (RE) power trading volume during FY 2022-23, which is a jump of 59 percent over the previous year, the company said in a statement on April 24.

Due to the increased trading volume, the revenue from power trading for the company also crossed the Rs. 10,000 crore mark for the first time since its inception.

“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 the prime minister. The entire team of employees and management of SECI is tirelessly working towards this goal," said Suman Sharma, managing director, SECI.

SECI is a miniratna category-I Central Public Sector Enterprise (CPSE) incorporated in the year 2011. It is the primary implementing agency of the Ministry of New and Renewable Energy (MNRE) for renewable energy schemes and projects towards fulfillment of India's international commitments.

Till date, SECI has awarded renewable energy (RE) project capacities of over 56 GW. SECI is also active in setting up projects through its own investments as well as for other public sector entities as Project Management Consultant (PMC).