Solar Energy Corporation of India (SECI) is registered under Section 25 of Companies Act, 1956, as a Company not for profit, under the administrative control of the Ministry of New & Renewable Energy (MNRE). The company was incorporated with an authorized capital of Rs 2000 crore.
According to sources, Rajendra Nimje is likely to be appointed as the Managing Director of Solar Energy Corporation of India (SECI). Rajiv Bharadwaz may be appointed as Director (HR), Solar Energy Corporation of India (SECI). Presently, Bharadwaz is ED & CGM of Container Corporation of India.
The main object of the Company would be to assist the Ministry and function as the implementing and executing arm of the Jawaharlal Nehru National Solar Mission (JNNSM) for development, promotion and commercialization of solar energy technologies in the country.
Most recently SECI was announced as the nodal agency that would implement the first batch of 750 MW bidding under Phase II of the National Solar Mission. The allocation, signing of power purchase agreements and handing out of gap funding is supposed to be handled by the Solar Energy Corporation of India (SECI).