Solar Energy Corp. eyes overseas entry into Asian, African markets
Enthused by its domestic success, the Solar Energy Corp. of India Ltd (SECI) is exploring the possibility of an overseas foray, according to a top company executive.
India has been exploring opportunities to develop solar power projects in Asia and Africa, dovetailing that with its aim of providing electricity to rural areas in those countries.
“A lot of people from overseas come for seeking our participation…Recently people from Afghanistan had come,” according to Ashvini Kumar, managing director, SECI. Kumar added that the company was considering opening an overseas branch.
India’s state-owned hydrocarbons explorer Oil and Natural Gas Corp. Ltd set up ONGC Videsh Ltd to acquire overseas assets in a bid to protect itself from volatility in crude oil prices. A similar approach by Coal Videsh Ltd, a state-run consortium, for acquiring coal blocks overseas did not gain much traction.
“The idea is to demonstrate our capacity overseas and then go forward. We are doing a lot of work in India,” said another SECI official requesting anonymity.