Reliance Power to legally challenge Indian clean energy agency's ban
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 07 2024
0mins
Source: Reuters
Reliance Power's Legal Challenge: Reliance Power plans to legally contest a three-year ban imposed by the Solar Energy Corporation of India for allegedly submitting a fake bank guarantee during a tender bid, claiming it was a victim of fraud.
Expansion into Renewable Energy: Despite the ban, Reliance Power aims to expand its presence in the renewable energy sector as India strives for 500 GW of renewable capacity by 2030, while the company has previously faced regulatory issues involving its chairman, Anil Ambani.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
