Solar Energy Corporation of India

Solar Energy Corporation of India
 

News: Recently, the Solar Energy Corporation of India Limited (SECI) has been accorded the status of Miniratna Category-I Central Public Sector Enterprise (CPSE).
 

About SECI:
 It is the primary implementing agency of the Ministry of New and Renewable Energy, Govt. of India for Renewable Energy schemes/projects.
 It has awarded Renewable Energy (RE) project capacities of over 56 GW.
 It enjoys the highest credit rating of AAA by ICRA.
 

What are benefits of getting this status?
 Increased financial powers for investments, greater autonomy in operations, improved corporate governance, and competitive advantage, among others.
 

What are criteria for grant of Miniratna status to CPSE’s?
 Miniratna Category-I status: The CPSEs which have made a profit in the last three years continuously, with a pre-tax profit of 30 crores or more in at least one of the three years and have a positive net worth are eligible to be considered for grant of Miniratna-I status.
 Miniratna Category-II status: The CPSEs which have made a profit for the last three years continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II status.
 Miniratna CPSEs should have not defaulted in the repayment of loans/interest payments on any loans due to the Government.
 Miniratna CPSEs shall not depend upon budgetary support or Government guarantees.