The Solar Energy Corporation of India (SECI), a Navratna CPSU under the Ministry of New & Renewable Energy (MNRE), has signed a Memorandum of Understanding (MoU) with the Government of Madhya Pradesh to set up a 200 MW Solar Project in Dhar under the CPSU Scheme. Additionally, a 1000 MWh Battery Storage Project will also be developed in the state. The agreement was signed during the Global Investors Summit 2025, held in Bhopal on February 24-25, 2025.
Key Highlights of the Solar Project
- The 200 MW Solar Project is part of a 500 MW agreement signed in 2023 with MP Power Management Company Limited (MPPMCL) for a 25-year supply of electricity to Madhya Pradesh.
- Phase-wise capital expenditure of Rs 2,500 crore has been proposed by SECI for renewable energy expansion and development in the state.
About Solar Energy Corporation of India (SECI) Ltd
- SECI is the leading Central Public Sector Undertaking (CPSU) dedicated to renewable energy development in India.
- Established to implement the National Solar Mission.
- Administrative control: Ministry of New & Renewable Energy (MNRE).
- Incorporated in 2011 as a not-for-profit company (under Section 25 of the Companies Act, 1956) and converted to a commercial company in 2015 (under Section 3 of the Companies Act, 2013).
- Vision: To build a ‘Green India’ by harnessing solar energy for national energy security.
- SECI serves as the only CPSU dedicated exclusively to the renewable energy sector in India.
- It was awarded Navratna Status in 2024
Role of SECI in Renewable Energy Development
- Implementing agency for Solar, Wind, and Hybrid Projects in line with India’s Nationally Determined Contributions (NDCs).
- Undertakes solar project development on a turnkey basis for PSUs and government departments.
- Holds a power trading license, actively involved in solar power trading from projects implemented under various schemes.
- SECI follows a competitive bidding model, procuring energy from developers and selling it to DISCOMs under long-term Power Purchase Agreements (PPAs) and Power Sale Agreements (PSAs).