Solar Energy Corporation of India Ltd.:
Reliance NU Suntech recently signed a 25-year Power Purchase Agreement with the Solar Energy Corporation of India, to develop and commission Asia’s largest single-location integrated solar and battery energy storage system (BESS) project.
- Solar Energy Corporation of India Ltd. (SECI) is the leading Central Public Sector Undertaking (CPSU) dedicated to the development and expansion of Renewable Energy (RE) capacity in India.
- It is the only CPSU dedicated to the renewable energy
- SECI was incorporated in 2011 as a not-for-profit company (Sec. 25 of the Companies Act, 1956) and converted to a commercial company in 2015 (Sec. 3 of the Companies Act, 2013).
- It was established to facilitate the implementation of the National Solar Mission.
- It is under the administrative control of the Ministry of New and Renewable Energy (MNRE).
- It has been accorded the status of Miniratna Category-I CPSU.
- SECI serves as an implementing agency for the development of Solar, Wind, and Hybrid Projects as part of fulfilling the country’s Nationally Determined Contributions (NDCs).
- To achieve this, SECI releases tenders for selection of Renewable Energy (RE) developers for the establishment of projects on a pan-India or state-specific basis.
- The selection process for successful bidders is conducted through a tariff-based competitive e-bidding procedure.
- Once selected, SECI enters into a 25-year Power Purchase Agreement (PPA) with the chosen bidders for the procurement of power from these projects.
- SECI is a Category-I (highest) Power Trading Licensee for trading power on a pan-India basis.
- It is the intermediary power procurer for projects being set up through SECI tenders.
- It procures power from successful developers under its tenders and sells it to buying entities (i.e. DISCOMs) through long term PPAs and PSAs, respectively.
- SECI is a premier trader of renewable energy power in the country.
- Providing Consultancy Services to other entities: SECI also offers Project Management Consultancy in the Renewable Energy sector to Public Sector/Government entities, including Feasibility Studies, Bid process Management, Construction Monitoring and Management, Commissioning, etc.
