A major alleged scam has surfaced in Rajasthan involving a ₹456 crore tender for the installation of solar panels on government buildings. The Rajasthan Renewable Energy Corporation (RREC) had awarded the contract for a 100-megawatt rooftop solar project to a private firm, Tiriy Nopicon, under the Hem Model. However, the company reportedly submitted a fraudulent bank guarantee of ₹60 crore to secure the contract.
Based on this guarantee, RREC released an advance payment of ₹46 crore to commence the project. The scam came to light after the Central Bureau of Investigation (CBI) sought details from the corporation, prompting further scrutiny.
Fraudulent Bank Guarantee Triggers CBI Action
The company was required to furnish a bank guarantee of 10 percent of the project cost to receive an equivalent advance. Initially, RREC confirmed the guarantee via email from the bank. However, after CBI intervened and demanded official documents related to the firm, the corporation approached the bank management in writing. It was then confirmed that no such bank guarantee had ever been issued.
The discovery exposed the fraudulent nature of the guarantee, raising suspicions of collusion between company representatives and bank employees. Officials connected with the project are also under suspicion.
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RREC Response and Ongoing Probe
Following the revelation, RREC issued a notice to the company, directing it to return the advance funds immediately. The corporation is also preparing to blacklist the firm and file an FIR. Additionally, a team was dispatched to Kolkata to investigate further after the concerned bank admitted the involvement of some of its employees.
RREC sources maintain that the scale of the fraud indicates it was unlikely the work of a single bank official, pointing instead to a broader conspiracy between the firm and certain insiders.
Larger Implications for Renewable Energy Projects
The incident has cast a shadow over Rajasthan’s renewable energy drive, which has positioned itself as a leader in solar power adoption. With ₹456 crore at stake, the case underscores the need for stringent checks and greater accountability in large-scale energy contracts.
Investigations are ongoing, and the role of company officials, bank employees, and project overseers remains under close scrutiny.
