Solar Energy Corp: The rise of SECI in India and Adani bribery bombshell

economictimes.indiatimes.com:

Solar Energy Corporation of India (SECI), a relatively low-profile yet pivotal miniratna PSU, has emerged as a key player in India’s renewable energy sector over the past decade. From its modest beginnings in 2014-15 with an awarded generation capacity of 0.75 gigawatts (750 MW), SECI now oversees a massive 65.3 GW of awarded capacity, according to its official data.

Out of this, more than 60%—over 40 GW—is solar energy, a sector where India has seen significant growth. The remaining capacity includes 16.3 GW of wind energy and about 9 GW of hybrid energy projects. The organisation has not only facilitated renewable energy growth through competitive bidding and long-term power agreements but also developed its own projects and partnered with state utilities.

Also Read:SECI link to Adani bribe, fraud probe: What put India's solar power nodal agency in the dock?

SECI’s Business Model

SECI operates as India’s nodal agency for renewable energy projects, holding the highest trading license in the sector. Its model involves procuring energy from developers selected through competitive bidding and selling it to electricity distribution companies (DISCOMs) under long-term Power Purchase Agreements (PPAs) and Power Sale Agreements (PSAs). In the last year alone, SECI traded approximately 43,000 million units of renewable energy.

Also Read: 'Bribe notes' with per megawatt rates: Case filings detail Sagar Adani's role in the scandal

Controversy Strikes

However, SECI has recently been thrust into the spotlight due to