The Solar Energy Corporation of India (SECI) has invited quotations from scheduled commercial banks for non-fund-based credit facilities aggregating up to ₹8 billion (~$83.98 million).

The invitation seeks letters of credit, bank guarantees, and standby letters of credit.

Banks must submit quotations on or before June 26, 2026.

The facilities will be used for SECI’s power trading operations, renewable energy projects, and other business requirements.

The credit facilities may be sanctioned by one or more banks, but the total amount tied up through the process must not exceed ₹8 billion (~$83.98 million).

The proposed tenor is one year, renewable thereafter on mutually agreed terms and conditions.

The banks may indicate the availability of interchangeable fund-based sub-limits, but their primary requirement will remain non-fund-based facilities.

SECI’s average monthly payments to renewable energy developers during the financial year 2026-27 are estimated at about ₹17.5 billion (~$183.72 million), and the amount is expected to rise as additional projects are commissioned.

The corporation has opened letters of credit in favor of renewable energy developers for the power supply of ₹22.54 billion (~$236.63 million).

SECI’s existing sanctioned credit facilities from banks total ₹40.75 billion (~$427.79 million), comprising ₹12.82 billion (~$134.58 million) in fund-based limits and ₹31.7 billion (~$332.79 million) in non-fund-based limits.

This April, SECI invited proposals from scheduled commercial banks and financial institutions for ₹6.6 billion (~$68.94 million) in term loans for a 200 MW solar project being set up in Dhar, Madhya Pradesh.

Earlier in February, SECI invited quotations from scheduled commercial banks to invest ₹4.5 billion (~$47.002 million) in term/fixed deposits.

Last year, SECI’s ₹6 billion (~$62.67 million) debenture issue was subscribed over 3.5 times. The unsecured, rated, non-cumulative, non-convertible, redeemable, and taxable debentures were listed on the National Stock Exchange.