Solar Energy Corporation of India (SECI)

Source:  IE

 Context: Recently, SECI has been linked to allegations of bribery involving the Adani Group, highlighting governance challenges in public sector operations.

• SECI has been granted the Navratna status on 30^thAugust 2024 by the Ministry of Finance.

About Solar Energy Corporation of India (SECI):

• Establishment: Founded on 20th September 2011 under the Ministry of New and Renewable Energy (MNRE).
• Purpose: Facilitates implementation of the National Solar Mission (NSM) and other renewable energy targets.
• CPSU for Renewables: The only Central Public Sector Undertaking (CPSU) dedicated to renewable energy.
• Mission objectives:
  1. Lead in large-scale solar installations, plants, and parks.
  2. Promote solar energy use in remote areas.
  3. Deploy new technologies to harness solar energy.
• Structure: Initially a not-for-profit Section-25 company under the Companies Act, 1956; later restructured in 2015 into a Section-3 company under the Companies Act, 2013.
• Mandate expansion: Broadened to cover the entire renewable energy sector, including project development and power trading.
• Power trading role: Trades solar power generated under MNRE schemes.

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