New Delhi: In a setback for Reliance Power’s green energy plans, Solar Energy Corp. of India (SECI) has barred the Anil Ambani company, its subsidiaries and Reliance NU BESS Ltd from participating in tenders issued by the state-owned company for three years.
This ban comes in response to the submission of alleged fake documents by the Anil Ambani companies in a tender released by SECI in June, which sought bids for setting up 1000 MW/2000 MWh standalone BESS projects, SECI said in a release on Thursday. Following this, the tender process was finally cancelled.
After reviewing the documents submitted by Maharashtra Energy Generation Ltd, now known as Reliance NU BESS Ltd, it was discovered that the endorsement of the bank guarantee against earnest money deposit, issued by a foreign bank, was fake, SECI said.
“The bidder, being a subsidiary of M/s Reliance Power Limited, had met the financial qualification requirements using the strength of its parent company. Upon detailed examination of the matter, it was found logical to conclude that all the commercial and strategic decisions undertaken by the bidder were fundamentally driven by the parent company,” it said.
Reliance Power did not immediately respond to Mint’s queries.
Business Standard reported on 4 November that the tender had been canceled due to fake documents submitted by the Reliance Power subsidiary.
The development assumes significance given that SECI, which issues tenders to renewable energy companies for solar, wind, and hybrid projects, expects to tender 20 GW of projects in the ongoing fiscal, with the government setting a target of tendering 50 GW of green power capacity every year till FY28.
Reliance Power has assets in the coal, gas, hydro, and renewable energy sectors, with a commissioned portfolio of 5,300 megawatts.
On 6 November, Rosa Power Supply Company Ltd, a subsidiary of Reliance Power, announced that it has prepaid ₹485 crore loan to Singapore-based lender Varde Partners, achieving a zero-debt status. Earlier in September, Rosa Power had prepaid Rs. 833 crore to Varde Partners.
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