Union Cabinet gives nod to rename SECI as Renewable Energy Corporation of India

Solar Energy Corporation of India (SECI) gets a new name as Renewable Energy Corporation of India after Union Cabinet gave its nod. Government has decided to overhaul SECI by enlarging its scope to cover all renewable energy sources. It will now provide optimized and comprehensive solutions for generation of renewable energy by integrating various renewable energy sources.

Other changes:

• SECI will convert into a Section 3 Company from being a Section 8 Company under the Companies Act, 2013.
• With this SECI, from now RECI will be a self-sustaining and self-generating organisation. It can own solar power plants for generating and selling power, participate in solar sector activities like manufacturing of solar products and materials.

Solar Energy Corporation of India (SECI):

• Solar Energy Corporation of India (SECI) was set up on 20th September 2011, as a not-for-profit company as an implementation and facilitation institution dedicated to Solar Energy sector.
• It is under the administrative control of the Ministry of New and Renewable Energy, Government of India.
• Mandate of SECI allows wide ranging activities to be undertaken with an overall view to facilitate implementation of JNNSM and achieving the targets set therein.
• The Corporation has the objective of developing Solar Technologies and ensuring inclusive solar power development throughout India.