•  
  •  
  •  

India's SECI plans geothermal, offshore wind, tidal debuts

Offshore wind farm. Author: Beverley Goodwin. License: Creative Commons, Attribution 2.0 Generic

June 25 (SeeNews) - State-owned Solar Energy Corp of India Ltd (SECI) plans to diversify its renewable energy operations by entering the geothermal, offshore wind and tidal among other green segments.

The firm will also become a “self-sustaining and self-generating organization”, the Ministry of New and Renewable Energy said in a press release on Wednesday. SECI will continue to expand its core solar business, including both its upstream and downstream segments.  

In line with the transition, the company plans to change its name to Renewable Energy Corporation of India (RECI). The move has already received the green light from prime minister Shri Narendra Modi’s Union Cabinet and will now apply to the country’s Registrar of Companies.

SECI booked its first profit of roughly INR 120 million (USD 1.9m/EUR 1.7m) during the last fiscal year. In 2015, its bottom line is expected to surge to some INR 3 billion.

(INR 10 = USD 0.157/EUR 0.141)

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Militsa Mancheva

Militsa is mainly focused on the Chinese market and the rest of Asia with solar energy and offshore wind as her mantras.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription