Three government-owned renewable energy agencies, Solar Energy Corporation of India (SECI), SJVN, and NHPC, have been conferred ‘Navratna’ status by the government, which gives them more financial and operational autonomy.

Navratna companies can invest up to ₹10 billion (~$117 million) without seeking approval from the Union government. They can also invest up to 15% of their net worth on a single project or 30% in a year, capped at ₹10 billion (~$117 million).

These companies can also go for capital expenditure without monetary caps, and enter into strategic alliances or technology joint ventures.

The three central public sector enterprises (CPSE) are pivotal to India’s goal of installing 500 GW of non-fossil fuel-based renewable energy capacity by 2030.

The Ministry of New and Renewable Energy said the classification of SECI as a Navratna CPSE gives it enhanced autonomy in financial and operational matters. It will accelerate the company’s growth through better agility, improved geographical presence, and technology focus. “This is yet another marker of the government’s focus on India’s transition towards sustainable energy.”

A key renewable energy implementing agency, SECI has facilitated market development and created an ecosystem for renewable energy with project configurations such as standalone solar, wind-solar hybrid with/without energy storage, round-the-clock power supply, and firm and dispatchable renewable energy. It has so far awarded a cumulative renewable energy generation capacity of 69.25 GW and an annual power trading volume of over 42 billion units.

SECI, SJVN, NHPC, and NTPC collectively issued 53.32 GW of renewable energy tenders, or 6.6% more than the target of 50 GW, in the financial year 2023-24.

SJVN recorded a 31.36% year-over-year rise in net profit in the first quarter of the financial year 2025 to ₹3.56 billion (~$42.44 million). Sales from wind and solar segments amounted to ₹558.3 million (~$6.65 million) against ₹309.1 million (~$3.68 million) in the corresponding period of the previous year.

Besides hydroelectric projects, NHPC has a total installed capacity of 7,097.2 MW of renewable energy (including wind and solar) through its 25 power stations, including 1,520 MW through subsidiaries.