A recent tender floated by Solar Energy Corporation of India (SECI) took a curious turn as invalid bank documents submitted by a prominent bidder landed an important project in trouble. SECI, a government enterprise under the ministry of new and renewable energy, subsequently cancelled the tender for 1 gigawatt (Gw) of solar with 2 Gw of standalone battery energy storage system. SECI detected the irregularities only after the bidding was done, forcing it to cancel the tender at an advanced stage.
At the centre of it all was Maharashtra Energy Generation Ltd, a subsidiary of Anil Ambani-owned Reliance Power (RPower). It participated in the bidding process after submitting bank documents that turned out to be invalid. The company named State Bank of India (SBI) as the guarantor for its bank guarantee. SBI has denied any knowledge of that, flagging an email ID used in the communication by Maharashtra Energy Generation as fake. Business Standard has reviewed a series of email trails revealing irregularities in the documents of the bidder.
"We would like to inform you that email ID sbi.171313@s-bi.co.in does not pertain to our bank," one such email exchange between SBI and SECI shows.
This story is from the November 04, 2024 edition of Business Standard.
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This story is from the November 04, 2024 edition of Business Standard.
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