CURRENT AFFAIRS
CURRENT AFFAIRS
Description
Reliance NU Suntech has signed a landmark 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India Ltd. (SECI) to develop Asia’s largest single-location integrated solar power and Battery Energy Storage System (BESS) project. This ambitious initiative marks a significant milestone in India’s renewable energy journey, combining large-scale solar power generation with advanced storage capabilities to ensure grid stability and round-the-clock power supply.
About Solar Energy Corporation Of India Ltd. (SECI)
The Solar Energy Corporation of India Ltd. (SECI) is a premier Central Public Sector Undertaking (CPSU) exclusively dedicated to promoting and implementing renewable energy (RE) projects across India. It functions under the administrative control of the Ministry of New and Renewable Energy (MNRE).
Establishment and Mandate
SECI was established in 2011 as a not-for-profit organization under Section 25 of the Companies Act, 1956.
It transitioned to a commercial entity in 2015 under Section 3 of the Companies Act, 2013.
The corporation was primarily created to execute and oversee the objectives of the National Solar Mission (NSM), a flagship initiative aimed at accelerating solar energy development in the country.
Key Functions and Responsibilities
Project Implementation: SECI is the designated implementing agency for large-scale solar, wind, and hybrid renewable energy projects across India. These projects contribute significantly to India's climate commitments under its Nationally Determined Contributions (NDCs).
Tendering and Bidding: The organization releases tenders to select renewable energy developers through a transparent and competitive tariff-based e-bidding process.
Power Purchase and Sale Agreements: Once developers are selected, SECI signs 25-year Power Purchase Agreements (PPAs) to procure electricity. It simultaneously enters into back-to-back Power Sale Agreements (PSAs) with power distribution companies (DISCOMs) to ensure efficient sale and distribution of the generated power.
Power Trading and Licensing
SECI holds a Category-I power trading license the highest classification enabling it to trade electricity nationwide.
As an intermediary procurer, SECI plays a vital role in bridging the gap between renewable power producers and consumers, ensuring a streamlined and legally binding power supply mechanism.
Consultancy and Project Support
In addition to project development, SECI provides Project Management Consultancy (PMC) services to other government departments and public sector units.
These services include feasibility studies, bid process management, construction oversight, monitoring, and commissioning of renewable energy projects.
Achievements And Current Capacity
SECI is currently managing over 63 GW of awarded renewable energy capacity.
Of this, more than 40 GW is dedicated to solar power, reaffirming India’s commitment to a solar-led energy transition.
The remaining capacity comprises approximately 3 GW of wind energy and 9 GW from hybrid energy projects, including solar-wind and solar-storage hybrids.
Significance of Reliance-SECI Agreement
The collaboration between Reliance NU Suntech and SECI is expected to set a new benchmark in the field of renewable energy integration. The massive scale of the solar-BESS project will:
Enhance India’s renewable energy storage infrastructure.
Support grid reliability by addressing intermittency in solar power generation.
Accelerate India’s shift toward achieving its net-zero carbon emissions target by 2070.
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