SECI plans to set up 100-GW renewable energy capacity in next five years, ET EnergyWorld

[ad_1]

New Delhi: State-owned Solar Energy Corporation of India (SECI) is targeting 100 gigawatt (GW) renewable energy capacity through developers mode in the next five years, its Chairman and Managing Director, R P Gupta, told ETEnergyWorld in an exclusive interaction.

“In the next five years, we are targeting 100 GW renewable energy capacity through developer mode. Out of this, about 10 GW will come from our own plants or captive plants,” said Gupta.

Elaborating on the plan, he said that renewable energy from this capacity – 10 GW of SECI’s own and remaining 80-90 GW by developer mode – will be supplied for green hydrogen plants as well.

However, he added, that the power through developer mode will not necessarily be restricted to supply to the discoms.

The 10 GW SECI plants would require about Rs 55,000 crore to Rs 60,000 crore investment while for the 80-90 GW capacity developer mode plants, companies themselves will be bringing in the investments.

“About 75 per cent of it will be through debt and the remaining Rs 10,000 crore to Rs 12,000 crore would be equity or our own investments – in this also, for C&I customers, part of it will be their investments,” said Gupta.

He added that in this, if SECI sets up captive plants in JV for C&I customers then it would amount to 25 per cent to 75 per cent investment which will be Rs 3,000 crore to Rs 9,000 crore investment from SECI’s side out of the Rs 10,000 crore to Rs 12,000 crore.

SECI is a mini-ratna company under the administrative control of the Ministry of New and Renewable Energy. It is one of the nodal agencies for implementation of MNRE’s schemes. It has also ventured into solar project development on turnkey basis for several PSUs and government departments.

  • Published On Sep 15, 2023 at 02:28 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETEnergyworld App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App


[ad_2]

Leave a Reply

Your email address will not be published. Required fields are marked *