State-run Solar Energy Corporation of India (SECI) is planning to list on stock exchanges in the next one to two years, its Chairman and Managing Director R P Gupta said on Friday.

One of the country’s four renewable energy implementing agencies (REIAs), who are mandated for tenders for setting up RE capacities, is also eyeing project management consultancy (PMC) business in the renewable energy sector globally.

“We would like to go public in one or two years,” Gupta told reporters in an interaction on the sidelines of the Navratna company’s foundation day celebrations.

SECI’s listing ambition is a significant development considering that it is the nodal agency of the Ministry of New & Renewable Energy (MNRE) for tendering RE projects.

Besides, Gupta said that SECI will install its own RE capacities of 10 gigawatts (GW) by 2030, which indicates that proceeds from the IPO will be utilised in setting up the said capacities that will be spread across solar, wind and hybrid.

Expressing satisfaction on India’s addition of solar and wind power capacities, Gupta said that the target of 500 GW by 2030 is “very achievable”, considering that India has already surpassed 200 GW of capacity from RE sources.

“But we have to think beyond 2030. The power demand will be 2,000 GW by 2047,” he added.

RE projects

Asked about the status of stuck RE projects, Gupta said that around 30 GW of capacities are still stuck in the pipeline due to issues related with land and transmission.

On targets for FY25, the CPSU plans to award 20 GW of RE capacity in the current fiscal year. IN FY24, the company awarded a cumulative 8.44 GW capacity, while commissioning stood at 2.585 GW.

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