Solar Energy Corporation withdraws debarment notice against Reliance Power Ltd

On December 3, 2024, the Solar Energy Corporation of India Ltd (SECI) announced the immediate withdrawal of its debarment notice against Reliance Power Ltd and its subsidiary, Reliance NU BESS Ltd. The initial notice, issued on November 6, 2024, had prohibited these entities from participating in SECI's future tenders for three years. 

SECI's decision to withdraw the debarment follows legal proceedings related to the case. In a public notice dated December 3, SECI clarified that this withdrawal is made without prejudice to its right to pursue further actions under applicable laws. As a result, Reliance Power and its subsidiary are now free to participate in future SECI bidding processes. 

SECI emphasized that although the debarment has been lifted, it maintains the authority to take legal action if necessary.

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Meanwhile, Reliance Power in a stock exchange filing said with the withdrawal of SECI's debarment notice, "the company and its subsidiaries, except Reliance NU BESS Limited (formerly known as Maharashtra Energy Generation Limited), are eligible to participate in all tenders issued by SECI".

Shares of Reliance Power Ltd ended at Rs 39.12, up by Rs 0.40, or 1.03% on the BSE.

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