Representative image showing solar panels.
Credit: iStock Photo
New Delhi: Solar Energy Corporation of India Ltd (SECI), a Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy, has been granted the Navratna status by the Ministry of Finance.
Completing its 13 years of incorporation, SECI is dedicated to the development and expansion of renewable energy capacity in India with a cumulative generation awarded capacity of 69.25 GW and an annual power trading volume upwards of 42 billion units.
SECI is the foremost Renewable Energy Implementing Agency (REIA) of India which is continuously working towards fulfilling climate goals and striving for sustainable development, said the statement.
The company has posted a consolidated annual turnover of Rs 13,118.68 crore registering an increase of 20.85 per cent over the previous year and Profit After Tax (PAT) of Rs 510.92 crore registering a growth 34.89 per cent in the fiscal 2023-24.
Classification as a Navratna CPSE enables SECI towards enhanced autonomy in financial and operational matters and will accelerate the company’s growth path through better agility, improved geographical presence and technology focus, said the statement.