The Solar Energy Corporation of India’s (SECI) first-ever ₹6 billion (~$71.86 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.

The offering received a strong response from investors, garnering 43 bids totaling ₹21.56 billion (~$258.14 million). The debentures carry a coupon rate of 7.14% per annum, with a tenure of 10 years.

The proceeds from the debenture issue will be used to fund renewable energy projects, recoup capital expenditure already incurred on projects, and other general corporate purposes.

The debenture issue diversifies SECI’s funding sources while strengthening its capacity to accelerate investments in India’s clean energy transition.

SECI has reported robust financial growth on a standalone basis for the financial year (FY) 2025. Its revenue from operations stood at ₹151.8 billion (~$1.82 million) as against ₹130.3 billion (~$1.56 million) in FY 2024. Profit after tax also increased to ₹5.01 billion (~$60 million) from ₹4.36 billion (~$52.22 million) in the previous year.

The company has a total renewable energy commissioned project capacity of over 30 GW, with an additional 23 GW of projects currently under implementation. This deployment has generated 52 billion units of green energy.

SECI, along with three other renewable energy implementing agencies, has the mandate to issue tenders for a cumulative capacity of 50 GW every year until FY 2028. These tenders may consist of vanilla solar, vanilla wind, solar-wind hybrid, round-the-clock renewable energy power, with or without storage, or any other combination.

Recently, SECI invited bids to install 3,640 kW of grid-connected rooftop solar projects spread across 11 government institutions in West Bengal, Tamil Nadu, Delhi, Uttar Pradesh, Karnataka, Odisha, and Uttarakhand (Tranche IV).

In the same month, SECI issued a call for proposals to select an executing agency for preparing detailed project reports for green hydrogen hubs under Component B1 of the National Green Hydrogen Mission.