PSU Solar bars R-Power, arms from contracts

India's Solar Energy Corporation of India (SECI) has banned Reliance Power and its subsidiaries from bidding on its contracts for three years. SECI alleges that Reliance Power submitted a fake bank guarantee as part of a bid for a battery energy storage system project. Reliance Power maintains it was the victim of fraud and plans to challenge the ban.

Nov 8, 2024 - 04:30
PSU Solar bars R-Power, arms from contracts

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India's Solar Energy Corporation of India (SECI) has banned Reliance Power and its subsidiaries from bidding on its contracts for three years. SECI alleges that Reliance Power submitted a fake bank guarantee as part of a bid for a battery energy storage system project. Reliance Power maintains it was the victim of fraud and plans to challenge the ban.
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