The Solar Energy Corporation of India (SECI) has achieved a milestone by signing power sale agreements (PSAs) with an aggregate capacity exceeding 50 GW. The most recent quantity of PSAs signed amounts to 50,292.64 MW, with SECI as the intermediary procurer.
Lately, SECI entered into a PSA with Uttar Pradesh Power Corporation Limited for 690 MW of wind power projects. Moreover, SECI inked PSAs with Tamil Nadu Generation and Distribution Corporation Limited for 500 MW of solar power projects under inter-state transmission system, tranche VIII. In addition, SECI also signed a power usage agreement for 700 MW of solar power with Gujarat Urja Vikas Nigam Limited under the CPSU scheme.
SECI is making significant strides in power trading and has reached new milestones by becoming the country’s largest renewable energy trader. SECI is actively involved in the advancement and fostering of diverse renewable energy sources, with a particular focus on solar energy, wind energy, renewable energy-based storage systems, research and development, and green hydrogen, green ammonia, and electric vehicles. Furthermore, the company serves as one of the key agencies responsible for executing various initiatives of the Ministry of New and Renewable Energy. It holds a Category 1 power trading license and actively engages in trading solar, wind, hybrid, round-the-clock, and battery energy storage systems power generated from projects established as part of the schemes being executed by the company.
Recently, in October 2023, SECI issued a tender for appointment of solar power developers to develop inter-state transmission system connected 1,000 MW solar projects, tranche XII in India.