Context:
India’s Solar Energy Corporation of India (SECI), a major player in the country’s renewable energy sector, is currently facing bribery allegations.
Relevance:
Facts for Prelims
Solar Energy Corporation of India (SECI) Ltd
Establishment and Control:
- Central Public Sector Undertaking (CPSU): SECI is a premier CPSU focused on the development and expansion of Renewable Energy (RE) capacity in India.
- Foundational Purpose: It was established to facilitate the implementation of the National Solar Mission.
- Administrative Oversight: SECI operates under the administrative control of the Ministry of New and Renewable Energy (MNRE).
- Incorporation Details: It was incorporated in 2011 as a not-for-profit company under Section 25 of the Companies Act, 1956, and transitioned to a commercial entity in 2015 under Section 3 of the Companies Act, 2013.
Vision and Role:
- Vision: SECI aims to build a ‘Green India’ by harnessing the country’s abundant solar radiation and achieving energy security.
- Unique Position: It is the only CPSU dedicated entirely to the renewable energy sector.
- Project Implementation: SECI acts as an implementing agency for the development of Solar, Wind, and Hybrid Projects, contributing to the fulfillment of India’s Nationally Determined Contributions (NDCs) under global climate agreements.
Operational Scope and Achievements:
- Project Development: SECI undertakes solar project development on a turnkey basis for various PSUs and government departments.
- Power Trading: The company holds a power trading license and engages in the trading of solar power generated from projects implemented under its schemes.
- Trading Model: SECI procures energy through competitive bidding from developers and sells it to electricity distribution companies (DISCOMs) via long-term Power Purchase Agreements (PPAs) and Power Sale Agreements (PSAs).
- Miniratna Status: SECI has been awarded Miniratna Category-I status, recognizing its autonomy and performance in the renewable sector.
Current Capacity and Future Outlook:
- Total Awarded Capacity: SECI currently oversees an impressive 65.3 GW of awarded generation capacity.
- Solar Energy: Over 60% of this capacity, amounting to more than 40 GW, is dedicated to solar energy projects.
- Wind and Hybrid Projects: The remaining capacity includes 16.3 GW of wind energy and approximately 9 GW of hybrid energy projects.
-Source: Economic Times
