The Solar Energy Corporation of India Limited (SECI) has achieved a significant milestone in the country’s clean energy journey by successfully executing over 60 gigawatts (GW) of Power Sale Agreements (PSAs) for renewable energy projects. This accomplishment marks a major step towards India’s transition to sustainable energy sources and reflects the growing momentum behind the country’s efforts to reduce its reliance on fossil fuels.
The PSAs encompass a diverse range of solar, wind, and hybrid energy projects, which collectively represent a substantial portion of India’s expanding renewable energy capacity. These long-term contracts provide payment security to developers and investors, thereby reinforcing confidence in the renewable sector and promoting large-scale investments. By ensuring the purchase of power generated from renewable sources, SECI plays a crucial role in supporting the growth of the renewable energy industry in India.
According to Shri Santosh Kumar Sarangi, Chairman and Managing Director of SECI, the achievement of 60 GW worth of PSAs is a defining moment for the organization. SECI has been at the forefront of India’s clean energy journey, working to ensure that the country meets its ambitious targets for renewable energy adoption. With this milestone, SECI has reaffirmed its commitment to contributing to India’s transition towards a sustainable and low-carbon future.
Looking ahead, SECI is poised to focus on next-generation initiatives that will further accelerate India’s transition to a low-carbon economy. These initiatives include the development of advanced energy storage systems, green hydrogen and green ammonia, and innovative power delivery models. Additionally, SECI will prioritize strengthening the renewable energy supply chain to support the growth of the industry and meet India’s climate goals. Overall, SECI’s achievement of 60 GW worth of PSAs is a significant step towards a cleaner, more sustainable energy future for India, and the organization is well-positioned to continue driving progress in the country’s renewable energy sector.