Why in news?
On 1 July 2025 the Solar Energy Corporation of India Limited (SECI), a Navratna Central Public Sector Enterprise under the Ministry of New and Renewable Energy, announced that it had executed over 60 gigawatts (GW) of Power Sale Agreements (PSAs) for renewable‑energy projects. This milestone underlines India’s progress towards its clean‑energy goals.
About SECI
- Established in 2011 to implement the National Solar Mission, SECI originally focused on solar projects but now handles all renewable‑energy technologies, including wind, hybrid and storage.
- It acts as an intermediary between renewable‑energy developers and electricity distribution companies (DISCOMs), signing long‑term PSAs that guarantee off‑take of power. SECI in turn signs Power Purchase Agreements (PPAs) with developers.
- In 2024 SECI was granted Navratna status, allowing it to invest up to ₹1,000 crore without central approval and giving it greater operational autonomy.
Highlights of the 60 GW milestone
- The PSAs cover a diverse portfolio of solar, wind, hybrid and round‑the‑clock renewable projects. By guaranteeing power purchase, SECI provides payment security to developers and investors and demonstrates the viability of renewable energy in India.
- Within just fourteen years of existence, SECI’s 60 GW agreements represent a significant share of India’s installed and pipeline renewable capacity, indicating a rapid shift towards clean energy.
- SECI plans to focus on energy‑storage solutions, green hydrogen and ammonia production and innovative power‑supply models in the future.
- By securing offtake for renewable power, SECI strengthens the renewable‑energy market, attracts capital and supports India’s commitment under the Paris Agreement.