SECI has disqualified India-based Reliance Power Ltd. and its subsidiary, Reliance NU BESS Ltd., from participating in its tenders for three years due to submission of a fraudulent bank guarantee. According to SECI, the issue arose during the 1000 MW/2000 MWh standalone battery energy storage system (BESS) project bid. SECI claims Reliance NU BESS presented a forged bank guarantee for the Earnest Money Deposit (EMD), discovered after the e-Reverse Auction phase. SECI annulled the tender as a result. Under SECI’s rules, falsified documentation leads to future disqualification, impacting both the subsidiary and its parent, Reliance Power. SECI stated that Reliance Power’s role in Reliance NU BESS’s financial and strategic decisions necessitated extending the ban to the parent company.
SECI bars Reliance Power for falsified bid documents
Reliance Power faces exclusion from SECI tenders until 2027 for fraudulent documentation related to a battery storage project. (Image Credit/Source: Pixabay/Pexels)
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