So­lar Energy Cor­po­ra­tion of In­dia to be re­named

Power Watch India - - DESPATCHES NATIONAL -

The Cen­tre has de­cided to change the name and na­ture of So­lar Energy Cor­po­ra­tion of In­dia, a four-year-old cen­tral public sec­tor un­der­tak­ing set up as a not-for-profit com­pany to pro­mote so­lar energy in In­dia. SECI will be re­named as Re­new­able Energy Cor­po­ra­tion of In­dia (RECI), and will be al­lowed to seek and make prof­its, ac­cord­ing to a Min­istry of New and Re­new­able Energy press re­lease. Though SECI was not meant to make prof­its, it made Rs 12-crore profit in 2014-15 and “has be­come a net worth-pos­i­tive PSU.”

In the cur­rent year, the com­pany, in its new avatar as RECI, is ex­pected to make a profit of Rs 300 crore, the re­lease said. Although SECI is a ‘Sec­tion 25 com­pany’, its ob­jec­tives in­clude own­ing and op­er­at­ing so­lar power plants, in­clud­ing mega and ul­tra power projects and so­lar parks, trad­ing in elec­tric­ity and pro­vid­ing so­lar con­sul­tancy ser­vices.

Apart from so­lar, the pro­posed RECI will take up de­vel­op­ment of all seg­ments of re­new­able energy namely geo-ther­mal, off-shore wind, tidal etc.

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