An Introduction to the Solar Energy Corporation of India (SECI):

• The Solar Energy Corporation of India (SECI) is a public sector enterprise, operating under the administrative control of the Ministry of New and Renewable Energy (MNRE). It plays a significant role in the rapid growth of renewable energy generation capacity in India, thereby aiding in the reduction of carbon emissions and promoting a shift towards sustainable energy.
• The Genesis of SECI:
• SECI was established in 2011 with a prime objective to develop large-scale solar power projects and promote the use of renewable energy across India.
• The Role of SECI:
  • SECI implements various government schemes and policies related to the development of solar energy in India, including the National Solar Mission.
  • It acts as a nodal agency for the procurement of solar power by government entities, and promotes the adoption of solar power by various public sector organisations.
  • In addition to its role in promoting solar power, SECI also takes initiatives to promote other forms of renewable energy, such as wind power and hybrid energy systems.
  • SECI is committed to aiding in the achievement of the ‘Panchamrita’ objectives and playing a crucial role in reaching the target of 500 GW of non-fossil fuel dependent capacity by 2030.

The Criteria for Granting Miniratna Status to CPSEs:

• Miniratna CPSEs should not 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:
  • 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:
  • 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)