Solar Energy Corporation lifts Reliance Power debarment notice

The Solar Energy Corporation of India Ltd (SECI) on Tuesday (December 3) announced the withdrawal of its debarment notice against Reliance Power Ltd and its subsidiary, Reliance NU BESS Ltd, effective immediately.

The initial notice, issued on November 6, 2024, barred the entities from participating in SECI's future tenders for three years. SECI’s decision follows legal proceedings concerning the matter.

In a public notice dated December 3, 2024, SECI clarified that the withdrawal is made without prejudice to its right to pursue further actions in accordance with applicable laws.

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This modification rescinds the restrictions outlined in the earlier notice, allowing Reliance Power and its subsidiary to participate in SECI's future bidding processes. SECI reiterated that while the debarment has been lifted, it retains the authority to take legal actions if deemed necessary.

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 ₹39.12, up by ₹0.40, or 1.03% on the BSE.

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