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Business News/ Companies / News/  Ajay Yadav takes charge as MD of SECI

New Delhi: Ajay Yadav, a seasoned IAS officer from the 2005 batch of the Bihar cadre, has assumed the charge of Managing Director at Solar Energy Corporation of India Limited (SECI), effective immediately.

SECI, a Miniratna Category-I Central Public Sector Enterprise (CPSE) established in 2011, serves as the primary implementing agency for renewable energy schemes and projects under the Ministry of New and Renewable Energy, Government of India.

With over 58 GW of Renewable Energy (RE) project capacities awarded to date, SECI has played a pivotal role in driving the growth of India’s renewable energy sector. The corporation has been instrumental in promoting solar energy projects and facilitating investments, contributing significantly to the nation’s sustainable energy goals.

SECI’s remarkable achievements include trading over 35 billion units (BU) of renewable energy (RE) power during the FY 2022-23, representing a substantial 59 percent increase compared to the previous year. This surge in trading volume propelled SECI’s revenue from power trading to surpass the Rs. 10,000 crore mark for the first time since its inception.

SECI’s commitment to renewable energy is further bolstered by its status as a miniratna category-I CPSE and its AAA credit rating awarded by ICRA, demonstrating the corporation’s financial strength and stability.

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Updated: 31 May 2023, 08:40 PM IST
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