SECI
Commerce Secy visits Norway to discuss early implementation of trade pact with EFTA bloc
Indian Commerce Secretary Sunil Barthwal visited Norway to expedite the implementation of a free trade agreement between India and the EFTA bloc. The agreement aims to boost Indian exports and attract significant investments from EFTA countries, including Norway. Barthwal's discussions focused on trade, investment, and professional mobility between the two regions.
Azure probe found irregularities, shared details with justice department
Azure Power's internal probe, prompted by whistleblowers, uncovered employee misconduct and potential improper payments related to a solar project in Andhra Pradesh. The company shared its findings, which included evidence of data manipulation, with the US Department of Justice. Azure surrendered the project to SECI, citing the investigation, and it was later awarded to Adani Green.
BJD says allegations of Adani paying bribe to Odisha govt officials 'false'
India's Biju Janata Dal (BJD) party has refuted allegations of bribery involving the Adani Group concerning renewable energy supply in Odisha. The BJD asserts that agreements were solely between Adani, the Solar Energy Corporation of India, and state power entities, with the Odisha government playing no direct role.
Key events in Gautam Adani's US indictment over alleged bribery scheme
Indian billionaire Gautam Adani and two others have been indicted by U.S. prosecutors for allegedly orchestrating a $265 million bribery scheme in India to secure solar power contracts. The U.S. Securities and Exchange Commission also filed civil charges. The Adani Group denies the allegations.
SECI link to Adani bribe, fraud probe: What put India's solar power nodal agency in the dock?
The US Justice Department is investigating allegations of bribery involving Adani Group, Azure Power, and India's Solar Energy Corporation (SECI). The matter traces back to a 2019 (stalled) solar project, with accusations that Adani offered bribes exceeding $250 million to secure agreements with state discoms despite pricing disputes. Adani has denied the allegations.
Solar Energy Corp: The rise of SECI in India and Adani bribery bombshell
India's Solar Energy Corporation of India (SECI), a major player in the country's renewable energy sector, is facing bribery allegations. The U.S. Justice Department alleges that over $250 million in bribes were paid to secure state-level agreements for a massive 15 GW solar project awarded in 2019. The controversy involves prominent figures like Gautam Adani, while SECI denies any wrongdoing.
TDP first red flagged Adani-Azure Andhra deal
TDP's Payyaula Keshav -- now Finance Minister in the Chandrababu Naidu govt -- had raised objections regarding the Adani-Azure solar power deal in Andhra Pradesh, questioning the tender modifications and tariff revisions.
No documentary basis yet to start a probe into Adani fraud charges: SECI Chief
India's Solar Energy Corporation (SECI) stated that an investigation into allegations of fraud and bribery against Gautam Adani and others is premature. SECI claims to have received no official communication from US authorities regarding the indictment and has found no evidence of wrongdoing within its ranks.
No mention of wrongdoing by SECI in Adani case: CMD R P Gupta
SECI's CMD, R P Gupta, stated that the agency has not been implicated in any wrongdoing related to the Adani case. While US prosecutors allege bribes were paid to Indian officials for favorable solar power contracts, Gupta emphasized that SECI is not accused of any irregularities.
Not sure if covenants violated: SECI on being named in Adani bribery case
India's SECI, named in Adani bribery allegations, stated it hasn't received any documents regarding the charges and is unsure of any covenant violations. Adani Group refuted the US authorities' allegations of a $250 million bribery scheme, deeming them baseless and committed to legal recourse while upholding its governance and compliance standards.
SECI signs MoU with H2Global Stiftung to promote green hydrogen initiatives
India and H2Global Stiftung will work together to promote green hydrogen. They signed an agreement to share knowledge and develop joint projects. This partnership will help India become a major exporter of green hydrogen. The agreement will also provide insights into the global hydrogen market. This collaboration is a significant step towards a greener future.
Reliance Power shares slide 5% after SECI issues showcause notices over fake bank guarantees
Solar Energy Corporation of India (SECI) issued a show-cause notice to Reliance Power and its subsidiary, Reliance NU BESS, for allegedly submitting fake bank guarantees. SECI discovered that the bank guarantee submitted by Reliance NU BESS was fake and has barred the companies from participating in its tenders for three years.
SECI issues showcause notices to RPower, its arm over fake bank guarantees
India's top renewable energy agency, SECI, has threatened legal action against Reliance Power, alleging the company submitted forged bank guarantees for a clean energy project bid. SECI stated that Reliance NU BESS, a subsidiary of Reliance Power, engaged in fraudulent activities to secure the project.
Reliance Power shares hit 5% lower circuit after SECI debars co from its tenders for 3 years
Reliance Power Share Price: Anil Ambani-led Reliance Power and its subsidiary, Reliance NU BESS, have been barred by SECI from participating in tenders for three years. This follows the submission of a "fake" bank guarantee document during a solar project bid. SECI discovered the discrepancy after the e-Reverse Auction, leading to the tender's cancellation.
Reliance Power, arms barred from renewable energy tenders for 3 years
SECI banned Reliance Power and subsidiaries from its renewable energy tenders. SECI found a Reliance subsidiary submitted a fake bank guarantee. Reliance Power denied wrongdoing and claimed to be a victim of fraud. The company will challenge SECI's decision. Reliance Power aims to expand in renewable energy. This incident forced SECI to cancel the tendering process.
SECI debars Reliance Power, Reliance NU BESS from its tenders for 3 years
Reliance Power Ltd and Reliance NU BESS Ltd have been barred by SECI from participating in tenders for the next three years. SECI alleges that the companies submitted a fake bank guarantee for a 1000 MW/2000 MWh battery energy storage project tender. The discovery of the alleged fake document led to the cancellation of the tendering process.
JSW Energy inks pact with SECI for 700 MW solar project
JSW Renew Energy Eleven signed a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for a 700 MW solar project with a 25-year tariff of Rs 2.56/kWh. The project is expected to be operational within 24 months. JSW Energy aims to achieve 10 GW capacity by FY25 and carbon neutrality by 2050.
India's Solar Energy Corp plans to bid for state projects, chairman says
SECI plans to bid for state renewable energy projects aiming to reach 10 GW capacity by 2030. The company, which will invest $7.7 billion, is exploring debt for 75%-80% of investment and aims to expand globally. SECI intends to become a major power producer.
Govt grants Navratana status to power PSUs NHPC, SJVN
The government has granted 'Navratna' status to NHPC, SJVN, and SECI, enhancing their operational and financial autonomy. This recognition will support major investment plans and drive growth, significantly impacting the power sector and renewable energy initiatives in India. The decision reflects the achievements and potential of these public sector undertakings.
Load More
