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Reliance Power said on Tuesday that the Delhi High Court has granted a stay on Solar Energy Corporation of India’s (SECI) notice of debarment against the company.
“In furtherance to our earlier letters dated November 07, 2024, November 14, 2024 and pursuant to Regulation 30 of the Listing Regulations, we would like to inform you that the company had challenged the notice of debarment and public notice by SECI in High Court of Delhi at New Delhi,” the company said in an exchange filing.
The Delhi High Court in its hearing held on Tuesday has granted stay on notice of debarment and public notice issued by SECI against the company including all its subsidiaries except Reliance NU BESS (formerly known as Maharashtra Energy Generation Ltd). The order copy will be forwarded once available, it added.
Three-year debarment
On November 6, SECI barred Reliance Power and its subsidiary Reliance NU BESS from participating in tenders floated by the State-run entity for three years.
The renewable energy implementing agency (REIA) in a notice said that Reliance Power submitted a fake bank guarantee in the SECI tender for setting up of 1,000 megawatt (MW)/ 2,000-MW hour (MWh) standalone BESS project. The bid was under tariff-based competitive bidding (TBCB).
“Based on the examination of documents submitted by Maharashtra Energy Generation (the bidder), now known as Reliance NU BESS under the above RfS, it was discovered that as per the tender requirements, the endorsement of the bank guarantee against EMD (issued by a foreign bank), as submitted by the bidder, was fake. Since the above discrepancy was discovered subsequent to the e-reverse auction (eRA), SECI was constrained to annul the tendering process,” SECI had said.
In line with the tender conditions, it is hereby intimated that the entities, namely Reliance NU BESS and Reliance Power (including its subsidiaries) stand debarred from participating in all the future tenders issued by SECI until three years from the date of issuance of the debarment notice, the order stated.
In September, Reliance Power said it has successfully secured a tender from SECI for a battery energy storage system (BESS) project of 500 MW/1,000 MWh through eRA, marking a significant entry into the renewable energy and storage sector.
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