“SECI Aims ₹180 Billion Investment in Clean Energy, Plans IPO in Next 2 Years – Big Leap for India’s Renewable Future!”

India’s state-owned Solar Energy Corporation of India (SECI) announced plans to invest ₹180 billion ($2.16 billion) in renewable energy by 2030. The company also revealed that it aims to go public with an Initial Public Offering (IPO) within the next one to two years.

Many large power producers in India are putting money into renewable energy, aligning with the government’s goal of adding at least 500 gigawatts (GW) of clean energy by 2030 to reduce carbon emissions. SECI plays a key role by issuing tenders to developers for solar, wind, and hybrid energy projects. This fiscal year, the company plans to invite tenders for 20 GW of new projects.

SECI’s Chairman and Managing Director, R.P. Gupta, shared the IPO plans during an industry event but mentioned that the size of the offering has not yet been decided.

India’s stock market has seen a surge in IPOs, with around 235 companies going public in 2024 and raising over $8.6 billion. The country’s main stock index, Nifty 50, has hit record highs over 50 times this year.

Earlier this week, NTPC Green Energy, a subsidiary of the power producer NTPC, filed for an IPO worth up to $1.19 billion.