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Govt. approves infusion of Rs. 1000 Cr. Additional Equity to Strengthen Solar Energy Corporation of India Ltd.

Govt. of India has recently approved infusion of additional Rs. 1000 Cr. equity into Solar Energy Corporation of India Ltd. (SECI), a Schedule-A CPSE under the Ministry of New and Renewable Energy (MNRE). The additional equity will strengthen the company’s Balance Sheet and enable SECI to undertake critical investments in the Renewable Energy (RE) sector.

The equity infusion comes at a time when the Govt. is prioritizing a shift of India’s Energy generation towards Clean Energy sources, and focusing on harnessing renewable energy, such as solar and wind, which are abundantly available in the country.

Rapid transition to RE will not only abate the pollution and climate change concerns being faced by the country and globally, but also reduce India’s dependence on Energy imports.

Equity infusion into SECI, one of the implementing agencies for Renewable Energy projects, is expected to boost investors’ confidence in RE sector and re-inforce the Govt’s commitment towards a sustainable future.