The Solar Energy Corporation of India Ltd (SECI), a Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy, has been awarded Navratna status by the Ministry of Finance on 30th August 2024.
As SECI celebrates its 13th year since incorporation, the company has established itself as a leader in the renewable energy sector in India. With a cumulative awarded capacity of 69.25 GW and an annual power trading volume exceeding 42 billion units, SECI continues to play a pivotal role in India’s renewable energy development.
In the Financial Year 2023-24, SECI reported a consolidated annual turnover of Rs. 13,118.68 crore, marking a 20.85% increase over the previous year. The company’s Profit After Tax (PAT) also saw significant growth, rising by 34.89% to Rs. 510.92 crore.
Achieving Navratna status will provide SECI with greater autonomy in financial and operational matters, enabling the company to accelerate its growth and enhance its presence across India. This milestone underscores the government’s commitment to advancing the nation’s transition to sustainable energy.