India Preps Green Energy Firm SECI for Blockbuster IPO

As of November 14, 2025, the Indian government is preparing to list Solar Energy Corp. of India Ltd. (SECI), a federal auctioning firm focused on green projects, on the stock exchange. SECI, one of four government companies tasked with rolling out renewables in the country, has helped build about 30 gigawatts of wind and solar projects over the past years.

The government has asked the renewable energy ministry to accelerate efforts to list the New Delhi-based firm, as India has seen a surge of equity offerings by green energy companies in recent months. The nation aims to double its clean power capacity to 500 gigawatts by 2030 as part of its path to net zero emissions by 2070.

SECI and other government firms play a crucial role in India's renewable energy push, auctioning off projects, arranging electricity buyers, and acting as intermediaries between producers and procurers of power. They provide developers with payment guarantees and certainty to speed up the process. SECI itself has plans to build a 10 GW portfolio of its own projects, up from less than 200 MW currently.

In the fiscal year ended March 2025, SECI reported a profit of ₹500 crore ($56 million), marking a 15% growth from the previous year. The government's decision to list the firm aims to capitalize on the growing investor interest in India's clean energy transition.