Recently the Government has accorded the Solar Energy Corporation of India (SECI), a status of Miniratna Category-I Central Public Sector Enterprise (CPSE). The Solar Energy Corporation of India has been designated as a Miniratna Category-I company. In this article, you can learn more about Solar Energy Corporation of India (SECI), an important topic for the IAS exam.
Solar Energy Corporation of India (SECI):
- The Solar Energy Corporation of India (SECI) is a public sector enterprise and is subject to the administrative oversight of the Ministry of New and Renewable Energy (MNRE).
- SECI’s contribution to the rapid growth of renewable energy generation capacity in the nation has been pivotal, as it has aided the country in fulfilling its climate obligations, reducing carbon emissions, and facilitating a shift towards sustainable energy.
- Establishment:
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- SECI was established in 2011 with the primary objective of developing large-scale solar power projects and promoting the use of renewable energy in India.
- Functions:
- It is responsible for implementing various government schemes and policies related to the development of solar energy in the country, such as the National Solar MissionÂ
- It also serves as a nodal agency for the procurement of solar power by government entities, and has played a key role in promoting the adoption of solar power by various public sector organisations.
- In addition to its role in promoting solar power in India, SECI has also taken initiatives to promote other forms of renewable energy, such as wind power and hybrid energy systems.
- SECI is dedicated to aiding in the achievement of the ‘Panchamrita’ objectives and assuming a crucial role in attaining the target of 500 GW of non-fossil fuel dependent capacity by 2030.
Criteria for grant of Miniratna status to CPSEs:
- Miniratna CPSEs ought not to have defaulted on loan repayments or interest payments owed to the government, and they should not rely on government guarantees or budgetary support.
- Miniratna Category-I status
- The CPSEs that have shown consistent profits for the past three years, with a pre-tax profit of at least Rs.30 crores in one of those years and have a positive net worth, can be considered for the Miniratna-I status.
- Miniratna Category-II status
- The CPSEs that have maintained a profitable track record for three consecutive years and hold a positive net worth are qualified to be evaluated for the award of Miniratna-II status.
Solar Energy Corporation of India (UPSC Notes):- Download PDF Here
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