+
Reliance Power to legally challenge Indian clean energy agency's ban
POWER & RENEWABLE ENERGY

Reliance Power to legally challenge Indian clean energy agency's ban

India's Reliance Power said that it will legally challenge a three-year ban by the country's top renewable energy agency from participating in its clean energy project tenders. Solar Energy Corporation of India Limited (SECI) said that it had banned Reliance Power and its units after the state-owned agency found the endorsement of a bank guarantee to be fake while scrutinising a bid for a tender. The ban comes as Reliance Power, a coal power generator, is looking to expand into the domestic and overseas renewable energy sector. "The Company and its subsidiaries acted bonafidely and have been a victim of fraud, forgery and cheating conspiracy," Reliance Power said in a statement. The company, run by Reliance Group Chairman Anil Ambani, said it had already lodged a complaint against the third party that arranged the bank guarantee with the economic offence wing of the Delhi Police. It did not name the third party. Indian companies are increasingly looking to set up clean energy projects as the country targets 500 GW of renewable energy by 2030 as part of its 2070 net zero goal, up from the current installed capacity of about 154 GW. In August, Anil Ambani was banned from the securities market for five years and fined about $3 million by the Indian markets regulator on charges of diversion of funds.

India's Reliance Power said that it will legally challenge a three-year ban by the country's top renewable energy agency from participating in its clean energy project tenders. Solar Energy Corporation of India Limited (SECI) said that it had banned Reliance Power and its units after the state-owned agency found the endorsement of a bank guarantee to be fake while scrutinising a bid for a tender. The ban comes as Reliance Power, a coal power generator, is looking to expand into the domestic and overseas renewable energy sector. The Company and its subsidiaries acted bonafidely and have been a victim of fraud, forgery and cheating conspiracy, Reliance Power said in a statement. The company, run by Reliance Group Chairman Anil Ambani, said it had already lodged a complaint against the third party that arranged the bank guarantee with the economic offence wing of the Delhi Police. It did not name the third party. Indian companies are increasingly looking to set up clean energy projects as the country targets 500 GW of renewable energy by 2030 as part of its 2070 net zero goal, up from the current installed capacity of about 154 GW. In August, Anil Ambani was banned from the securities market for five years and fined about $3 million by the Indian markets regulator on charges of diversion of funds.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

India’s Global CE Connect

India’s construction equipment industry is entering a phase where scale is increasingly being matched by productivity, technology, localisation and lifecycle economics. Against this backdrop, bauma ConExpo India 2026, scheduled for September 15-18 at the India Expo Centre, Greater Noida, will bring the global and Indian construction machinery ecosystem together.The eighth edition is expected to be the largest yet, with the exhibition sold out across around 1.45 million sq ft. More than 1,100 exhibitors from over 100 countries are expected to participate, with visitor numbers projected to exc..

Next Story
Real Estate

Orris, Godrej Properties Settle Dispute Over Gurugram Project

Orris Infrastructure and Godrej Properties Limited have reached an amicable settlement over matters related to the jointly developed Godrej Air project in Gurugram, bringing an end to the dispute between the two companies.The Bombay High Court, while hearing a petition filed by Orris Infrastructure, ordered the immediate and unconditional release of Orris Managing Director Amit Gupta on August 25, 2026, after being informed about the settlement agreement between the parties.A single-judge bench led by Justice Milind N. Jadhav noted that in view of the settlement agreement signed by both compan..

Next Story
Infrastructure Urban

Panasonic Launches Second Cycle of Startup Co-Creation Programme

Panasonic Life Solutions India (PLSIND), through its IGNITION Open Innovation platform, has announced the second cycle of Co.lab Studio, a startup collaboration initiative focused on developing scalable digital services and solutions.The new cycle will focus on Safety & Security and Daily Living solutions for communities by leveraging Panasonic’s AI and IoT-enabled connected living platform, MirAIe. The programme aims to help startups move from innovation concepts to pilot deployments, platform integrations and commercialisation-ready solutions.The first cycle of Co.lab Studio received 1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code