Solar Energy Corporation Gets Miniratna Status

In News

• State-owned Solar Energy Corporation of India Ltd (SECI) has got the status of Miniratna Category-I Central Public Sector Enterprise (CPSE). 

About Miniratna Status

• In October 1997, the government granted certain autonomy & financial powers to some profit making organisations on the basis of certain criterias.
• The criteria laid down by the Government for grant of Miniratna status to Central Public Sector Enterprises (CPSEs) is given below:
  • Miniratna Category-I status: The CPSEs which have made profit in the last three years continuously, pre-tax profit is Rs.30 crores or more in at least one of the three years and have a positive net worth are eligible to be considered for grant of Miniratna-I status.
  • Miniratna Category-II status: The CPSEs which have made profit for the last three years continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II status.
    • Miniratna CPSEs should have not defaulted in the repayment of loans/interest payment on any loans due to the Government.
    • Miniratna CPSEs shall not depend upon budgetary support or Government guarantees.

Solar Energy Corporation of India (SECI)

• It is under the administrative control of the Ministry of New and Renewable Energy (MNRE) and set up on 20th Sept, 2011 to facilitate the implementation of the National Solar Mission (NSM).
• It is the only CPSU dedicated to the renewable energy sector. Through the amendments under the Companies Act, 2013, the mandate of the company has been broadened to cover the entire renewable energy domain.
• HQ: New Delhi

Source: ET