SECI Crosses 60 GW Milestone in Power Sale Agreements

The Solar Energy Corporation of India Limited (SECI), a Navratna Central Public Sector Enterprise under the Ministry of New and Renewable Energy, has successfully executed over 60 Gigawatts (GW) of Power Sale Agreements (PSAs) for renewable energy (RE) capacity, it said.

A SECI statement said, “This achievement marks a pivotal step in the nation’s progress toward a clean and sustainable energy future and reflects the increasing demand for renewable energy across India.”

The executed PSAs cover a diversified portfolio comprising solar, wind, and hybrid energy projects. These agreements play a crucial role in ensuring the long-term purchase of renewable power, offering payment security to developers and investors. By reducing financial risk and ensuring stable returns, SECI’s agreements have strengthened investor confidence and enabled greater capital flow into India’s low-carbon economy, it added.

A SECI official noted that such long-term arrangements are essential to unlocking the full potential of India’s renewable energy sector, as they not only stabilize revenue streams but also enhance the bankability of projects. “By securing offtake for renewable power, SECI reinforces market stability and attracts both developers and financial stakeholders,” the statement added.

Santosh Kumar Sarangi, Chairman and Managing Director of SECI, said, “The signing of 60 GW worth of Power Sale Agreements within just fourteen years of establishment marks a pivotal moment for SECI’s journey. SECI continues to be at the forefront of ensuring that India stays on track to meet its ambitious clean energy targets. We are proud to contribute to the nation’s transition towards a sustainable and low-carbon future.”

Looking ahead, SECI plans to focus on innovative energy storage solutions, strengthening renewable energy supply chains, and supporting the development of green hydrogen and green ammonia production. These upcoming initiatives, combined with new power supply models, are expected to further accelerate India’s renewable energy transition and contribute significantly to meeting the country’s climate goals.