SECI Achieves Major Milestone with 60 GW of Renewable Energy Power Sale Agreements in 14 Years
—
The Solar Energy Corporation of India (SECI) has reached a significant milestone by executing over 60 Gigawatts (GW) of power sale agreements for renewable energy projects in just 14 years. These agreements encompass a diverse range of solar, wind, and hybrid energy projects, contributing substantially to India’s growing renewable energy capacity.
According to a statement from SECI, these Power Sale Agreements (PSAs) guarantee long-term purchases of the generated power, ensuring payment security for developers and investors. This initiative highlights the viability of renewable energy projects in India and is critical for unlocking the full potential of the renewable energy sector.
“The signing of 60 GW worth of Power Sale Agreements within just fourteen years of establishment marks a pivotal moment for SECI’s journey. SECI continues to be at the forefront of ensuring that India stays on track to meet its ambitious clean energy targets. We are proud to contribute to the nation’s transition towards a sustainable and low-carbon future,” stated Santosh Kumar Sarangi, Chairman and Managing Director of SECI.
Looking ahead, SECI plans to focus on innovative energy storage solutions, strengthening the renewable energy supply chain, advancing the production of green hydrogen and green ammonia, and developing new power supply models. These initiatives aim to accelerate the transition to renewable energy and support India’s climate commitments.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/seci-achieves-milestone-with-60-gw-of-renewable-energy-power-sale-agreements-in-14-years/
