SECI Sets Record in Renewable Energy Trading, Surpasses ₹100 Billion
SECI Sets Record in Renewable Energy Trading, Surpasses ₹100 Billion
Solar Energy Corporation of India (SECI), a central government-owned company, has reported its highest-ever renewable power trading revenue of more than ₹100 billion (~$1.22 billion) in the financial year (FY) 2022-23.
The company is involved in various government programs that traded over 35 billion units of renewable energy in the fiscal year ending March 31. This was a significant increase of 59% from the previous year’s power trading volume.
SECI’s main source of income is the ₹0.07 (~0.00085)/kWh trading fees it charges on electricity sold to mostly state-owned distribution companies (DISCOMs). As an intermediary procurer, the company signs back-to-back power purchase agreements with developers and DISCOMs.
The agency is likely to be the intermediary procurer for the government’s proposed price pooling mechanism for solar power.
Under this proposal, SECI would also be able to sell any surplus power to open access consumers at a price that is at least equal to the uniform renewable energy tariff.
This could indicate SECI’s entry into the commercial and industrial (C&I) segment, as the agency could act as both intermediary and implementing agency for central pooling.
The Ministry of Power amended the Electricity Rules to implement a uniform renewable energy tariff for the central pool of projects connected to interstate transmission systems.
The uniform renewable energy tariff and SECI’s involvement are expected to boost the wind sector, improve transmission infrastructure, and facilitate the development of more renewable energy ISTS projects.
SECI’s Entry into C&I Segment Could Benefit Consumers, But Private Developers Worry About Market Share
SECI has vast resources that could offer lower tariffs and easier access to round-the-clock RTC power to consumers in the C&I domain, but private developers fear that their market opportunities will reduce.
Ajay Kumar Sinha, Additional General Manager of SECI, said that SECI had discussions with large businesses to understand the C&I market during a panel discussion at Mercom India’s C&I Clean Energy Meet in Ahmedabad.
Suggested Articles
Faulty Solar PV Module Detection Using Shading Test
A complete guide to detecting faulty solar PV modules using the shading test and ammeter readings, helping installers quickly identify underperforming modules and restore system performance.
Short Circuit Current (Isc) Testing Guide for Solar PV
A complete guide to measuring short circuit current (Isc) in solar PV systems, including testing methods, safety guidelines, and performance evaluation for accurate system assessment.
Affordable Solar Systems and Plants for Small and Medium Enterprises
Learn how SMEs can harness solar energy through tailored solar systems and plants to reduce electricity bills, improve sustainability, and boost efficiency.
Inverter Operation and Anti-Islanding Testing Guide
A complete guide to solar inverter testing and anti-islanding performance verification, including AC system measurements and commissioning best practices.
Capex vs Opex Solar Model: Which is Better for Your Energy Needs?
Solar energy systems are becoming increasingly popular in homes and businesses around the world. With rising electricity costs, solar energy provides an attractive alternative to traditional energy sources.
Delhi Government Pledges to Boost Renewable Energy Generation
Delhi, the capital city of India, is moving towards a greener future with an ambitious plan to generate an additional 6,000 MW of electricity using renewable energy sources.
Civil Structural General Arrangement (GA) Drawing in Solar Projects: Complete Design & Layout Guide
A Civil Structural General Arrangement (GA) drawing in solar projects is a detailed layout that defines the placement of solar modules, mounting structures, inverters, and civil foundations. It plays a crucial role in ensuring accurate design, optimal space utilization, and smooth execution of both rooftop and ground-mounted solar installations. This guide explains the key components, design considerations, and best practices for creating effective GA drawings in solar EPC projects.
Solar Power Park Scheme: Central Government Expands Clean Energy Initiative
The Union government plans to launch the second phase of a dedicated program to develop solar parks across the country that will aim to plug loopholes and overcome slow progress.