NEW DELHI: The government today approved a proposal to allow Solar Energy Corporation of India (SECI) to register itself as a Section-3 company to do commercial activities and rename it as Renewable Energy Corporation of India (RECI).
SECI is a Section-8 company under the Companies Act, which provides for formation of companies with charitable, objects. Under this provision, the commercial aspect of a business entity and its growth is completely prohibited.
The decision will enable SECI to own solar power plants for generating and selling electricity and take up other commercial activities like manufacturing of solar products and materials.
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