Solar Panel Scam in Rajasthan: Rs 456 Crore Tender Fraud

Solar Panel Scam: A major scam has come to light in Rajasthan involving a ₹456 crore rooftop solar project tender. The CBI investigation revealed that a company secured ₹46 crore in advance payments by submitting fraudulent bank guarantees worth ₹60 crore.

Jaipur: A major alleged scam has come to light in Rajasthan involving a ₹456 crore tender for installing solar panels on government buildings. The company awarded the contract allegedly submitted a fraudulent bank guarantee of ₹60 crore.

The Rajasthan Renewable Energy Corporation (RREC) released ₹46 crore in advance against this guarantee to commence the work. The matter came to light after the Central Bureau of Investigation (CBI) intervened. The RREC has issued a notice to the company and is preparing to blacklist it and file an FIR.

The corporation awarded the contract to the firm Tiriy Nopicon under the Hem Model. All officials associated with this project are under suspicion. The company was given the contract for a 100-megawatt rooftop solar project in March-April this year.

Corporation Sends Team to Kolkata

After the bank admitted the involvement of its employees, the RREC sent a team to Kolkata. Upon inquiring with the relevant bank management, the bank guarantee was found to be fraudulent. The company has also filed an FIR in another related matter. Meanwhile, the RREC believes that this could not have been the work of a single bank employee and that there was collusion with company employees.

How the Scam Unfolded

The company that won the contract could deposit 10 percent of the project cost as a bank guarantee and receive an equivalent advance. Sources say that the RREC initially confirmed the guarantee via email from the bank. However, the CBI subsequently requested documents related to the company from the RREC. Further investigation prompted the RREC to seek written confirmation from the bank, which revealed that no such bank guarantee had been issued.

After the fraudulent bank guarantee came to light, the company has been issued a notice and asked to return the advance amount immediately.
-Rohit Gupta, Managing Director, Rajasthan Renewable Energy Corporation