The Solar Energy Corporation of India (SECI) has officially crossed the milestone of 60 GW by executing Power Sale Agreements (PSAs) for renewable energy projects—encompassing solar, wind, and hybrid installations—marking a pivotal advancement for India’s green energy ambition.
The Power Sale Agreements cover a diverse portfolio of solar, wind, and hybrid energy projects, collectively representing a significant share of India’s rising RE capacity. Through these agreements, SECI guarantees long-term purchase of power generated, providing payment security to developers and investors while demonstrating the viability of renewable energy ventures in the country. Such long-term arrangements are critical to unlocking the full potential of India’s RE sector. By securing off take for renewable power, SECI strengthens the renewable energy market, attracting developers and financial stakeholders, and facilitating the flow of capital for India’s low-carbon economy.
Shri Santosh Kumar Sarangi, Chairman and Managing Director of SECI, stated “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.”