State-run Solar Energy Corporation of India Ltd (Seci) plans to launch its Initial Public Offering (IPO) within the next one to two years, according to its chairman and managing director, R.P. Gupta. Speaking to the media, Gupta said that while the IPO size hasn’t been decided yet, the company is gearing up for its public listing.
Seci currently operates a renewable energy capacity of 122.7 MW but aims to expand significantly, with plans to install 10 GW of renewable energy capacity by 2030.
This announcement comes shortly after another state-owned renewable energy firm, NTPC Green Energy Ltd, filed for a ₹10,000 crore IPO.
Seci, responsible for issuing tenders to renewable energy companies for solar, wind, and hybrid projects, expects to tender 20 GW of projects in this fiscal year. The Indian government aims to tender 50 GW of green energy capacity annually until FY28. In FY24, over 60 GW of capacity was tendered, with Seci handling 15.2 GW. Of this, 12 GW were successfully awarded, and power supply agreements (PSAs) were signed for around 7-8 GW.
India’s power demand is expected to reach 2,000 MW by 2047, up from a peak of 250 GW in May this year. Gupta mentioned that about 30 GW of renewable energy capacity is still awaiting PSA signings, but the process is speeding up as states realize their renewable energy needs under central government mandates.
Seci, which recently received “Navratna” status after 13 years of operation, also plans to expand its role by offering project consultancy services for international renewable energy projects.
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