New Delhi: Solar Energy Corporation of India (SECI), classified as a Miniratna Category-I Central Public Sector Enterprise (CPSE) under the Ministry of New & Renewable Energy, has announced that it has executed Power Sale Agreements (PSAs) for a cumulative total of 50 GW in Renewable Energy (RE) projects.
This update was provided in an official statement from the Ministry of New and Renewable Energy (MNRE) recently. The statement from MNRE reads, “The latest quantum of PSAs signed stands at 50,292.64 MW now, where SECI is the trader as an Intermediary Procurer.”
SECI, recently signed a PSA for 690 MW of wind power with the Uttar Pradesh Power Corporation Limited (UPPCL) and PSAs for 500 MW of solar power as part of ISTS Solar Tranche VIII with the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) Limited.
Additionally, SECI sealed a long-anticipated Power Usage Agreement with Gujarat Urja Vikas Nigam Limited, encompassing 700 MW of Solar Power through the CPSU Scheme.
SECI has expanded its operations into the power trading sector and has achieved the distinction of being the largest renewable energy trader in the country, according to the MNRE.
In the fiscal year 2022-23, SECI traded over 35 billion units (BU), marking a remarkable 59 percent increase in its Renewable Energy power trading volume compared to the previous year.
SECI is actively involved in the promotion and development of various RE resources, focusing mainly on solar energy, wind energy, RE-based storage systems, power trading, research and development, and the creation of renewable energy-based products such as green hydrogen, green ammonia, and RE-powered electric vehicles.
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