SECI Plans ₹1,000 Crore Foreign Currency Loan, Seeks Proposals From Global Banks
New Delhi, June 16, 2026: State-owned Solar Energy Corporation of India Limited (SECI) has initiated plans to raise external commercial borrowings (ECBs) or foreign currency term loans equivalent to approximately ₹1,000 crore and has invited proposals from international banks, financial institutions and multilateral agencies.
SECI, a Navratna Central Public Sector Enterprise under the Ministry of New and Renewable Energy (MNRE), issued an Expression of Interest (EOI) seeking indicative proposals for arranging and providing the foreign currency facility.
SECI Looks to Diversify Funding Sources
The company said the proposed borrowing is aimed at diversifying funding sources and optimizing its overall cost of borrowing.
According to the EOI, the proceeds may be utilized for domestic debt repayment and refinancing, working capital requirements, general corporate purposes, reimbursement of capital expenditure already incurred and funding future capital expenditure.
The proposed facility will have a tenor of five years with bullet repayment at maturity. SECI has indicated a preference for unsecured borrowing, although lenders may specify security requirements.
SECI Reports Strong Financial Performance
SECI highlighted its strong financial profile and highest domestic credit ratings of AAA (Stable) from ICRA and CARE Ratings.
The company reported revenue from operations of ₹18,447 crore in FY2025-26, compared with ₹15,185 crore in FY2024-25 and ₹13,035 crore in FY2023-24.
Its net worth increased to ₹3,778 crore in FY2025-26 from ₹3,314 crore a year earlier, while profit after tax rose to ₹579 crore from ₹502 crore.
Global Lenders Invited to Submit Proposals
SECI has asked eligible international banks, financial institutions and multilateral agencies to submit indicative proposals within 15 days from the date of issuance of the EOI.
The company said proposals would primarily be evaluated on the basis of the lowest effective all-in borrowing cost in Indian rupee terms, taking into account benchmark interest rates, credit spreads, hedging costs and other charges.
SECI also reserved the right to modify the financing structure, seek clarifications or discontinue the process at any stage without assigning any reason.
The Expression of Interest has been issued under the authority of Ashwini Kumar Das, Executive Director (Finance), Solar Energy Corporation of India Limited.