New Delhi: Solar Energy Corporation of India (SECI), a Miniratna Category-I Central Public Sector Enterprise (CPSE) under the Ministry of New & Renewable Energy, has signed Power Sale Agreements (PSAs) for 50 GW of Renewable Energy (RE) projects so far, said an official statement released by the Ministry of New and Renewable Energy (MNRE) on Friday. “The latest quantum of PSAs signed stands at 50,292.64 MW now, where SECI is the trader as an Intermediary Procurer,” said the MNRE.
Recently, SECI signed a PSA of 690 MW wind power with Uttar Pradesh Power Corporation Limited (UPPCL) and PSAs of 500 MW solar power under ISTS Solar Tranche VIII with Tamil Nadu Generation and Distribution Corporation (TANGEDCO) Limited. SECI also entered into a much-awaited Power Usage Agreement with Gujarat Urja Vikas Nigam Limited, for 700 MW Solar Power under the CPSU Scheme.
SECI has also embarked on the path of power trading, touching new heights as the largest renewable energy trader in the country, said the MNRE. SECI had traded over 35 BU (Billion Units), a jump of over 59 percent in its Renewable Energy power trading volume, during FY 2022-23 over the previous year.
The company is engaged in the promotion and development of various RE resources, especially solar energy, wind energy, RE-based storage systems, trading of power, R&D as well as renewable energy RE-based products like green hydrogen, green ammonia and RE-powered electric vehicles.