New Delhi, Aug 27 (IANS) The Solar Energy Corporation of India (SECI) has appointed Akash Tripathi, a 1998 batch IAS officer, as Managing Director, the state-owned solar body said on Wednesday.
Tripathi’s appointment was approved by the Appointments Committee of the Cabinet (ACC) in the rank and pay of Additional Secretary to the Government of India, a SECI statement said.
The SECI is the designated agency under the Ministry of New and Renewable Energy to carry out national renewable energy initiatives, such as competitive bidding for projects involving solar, wind, hybrid, energy storage, offshore wind, and green hydrogen, among others.
With MNRE Secretary Santosh Sarangi still serving as Chairman, the SECI’s leadership structure is now formally established.
Earlier last month, the SECI said that it had achieved the milestone of executing over 60 gigawatts (GW) of power sale agreements for renewable energy capacity, marking a pivotal step in the nation’s progress toward a clean and sustainable energy future.
A sizeable portion of India’s expanding renewable energy capacity is represented by the power sale agreements, which cover a varied portfolio of solar, wind, and hybrid energy projects.
By guaranteeing long-term purchases of power generated, the SECI, a Navratna public sector enterprise, gives investors and developers payment security while proving the feasibility of renewable energy projects in the nation.
To fully realise the potential of India’s renewable energy sector, such long-term agreements are essential. The SECI boosts the market for renewable energy by ensuring off-take for renewable power, drawing in developers and financial players and easing the flow of capital for India’s low-carbon economy.
As part of the nation’s efforts to combat climate change, Prime Minister Narendra Modi has set a target of 500 GW of renewable energy capacity by 2030.
According to official figures, solar energy, which leads the renewable energy sector, has grown significantly in India over the past 11 years, from a meagre 2.82 GW in 2014 to an astounding 105.65 GW as of March 31 this year.
–IANS
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