Solar Energy Corporation of India (SECI) gets ‘Miniratna Category-I’ status

Solar Energy Corporation of India (SECI) gets ‘Miniratna Category-I’ status

Daily Current Affairs / Solar Energy Corporation of India (SECI) gets ‘Miniratna Category-I’ status

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Category : National Published on: April 14 2023

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Solar Energy Corporation of India Limited (SECI) has been accorded the status of Miniratna Category-I Central Public Sector Enterprise (CPSE) on Monday, 10th April 2023.
A communication to this effect has been issued by the Ministry of New and Renewable Energy, Govt. of India.
Incorporated in the year 2011, SECI is the primary implementing agency of the Ministry of New and Renewable Energy, Govt. of India for Renewable Energy schemes/projects towards fulfillment of India's international commitments.
It was originally incorporated as a section-25 (not-for-profit) company under the Companies Act of 1956.
Till date, SECI has awarded Renewable Energy (RE) project capacities of over 56 GW. SECI is also active in setting up of projects through its own investments as well as for other public sector entities as Project Management Consultant (PMC).
SECI has given highest credit rating of AAA by ICRA.
According to the government norms, Miniratna Category-I status is granted to CPSEs that have made a profit in the last three years continuously, have a pre-tax profit is Rs.30 crores or more in at least one of the three years, and have a positive net worth.

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