Shares in green a day after SECI lifts debarment on Reliance Power 

Anupama Ghosh Updated - December 04, 2024 at 10:43 AM.

Reliance Power confirmed that SECI has rescinded its previous notice from November 6, 2024, which had prohibited the company and its subsidiaries from bidding on SECI tenders for three years

Solar Energy Corporation of India (SECI) has withdrawn its debarment notice against Reliance Power Limited, enabling the company to participate in future solar tenders immediately, the company disclosed on Monday. | Photo Credit: Francesca Volpi

The shares of Reliance Power Limited were trading at ₹41.09 up by ₹1.95 or 4.98 per cent on the NSE today at 10.20 am.

Solar Energy Corporation of India (SECI) has withdrawn its debarment notice against Reliance Power Limited, enabling the company to participate in future solar tenders immediately, the company disclosed on Monday.

Reliance Power confirmed that SECI has rescinded its previous notice from November 6, 2024, which had prohibited the company and its subsidiaries (except Reliance NU BESS Limited) from bidding on SECI tenders for three years.

The withdrawal comes following legal proceedings related to the original debarment. SECI’s official communication explicitly stated that the notice stands modified, with the company retaining its right to take further legal actions.

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Reliance Power Limited, headquartered in Navi Mumbai, will now be able to bid on solar energy projects, potentially recovering market opportunities lost during the debarment period.

Published on December 4, 2024 05:13
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