The Lucknow Solar Power Development Corporation Limited (LSPDCL), a joint venture between the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) and the Solar Energy Corporation of India (SECI), has invited bids to raise a term loan of ₹30 crore for developing solar power park infrastructure in Uttar Pradesh. The funding will be used for two upcoming solar park projects located in the Kanpur Dehat and Kanpur Nagar districts.
Out of the total loan amount, ₹15 crore has been earmarked for each project. The Kanpur Dehat project involves the development of infrastructure for a 75 MW solar park, while the Kanpur Nagar project will support a 35 MW solar park. These projects are part of the state’s broader efforts to strengthen solar infrastructure and promote clean energy deployment.
The Request for Proposal (RFP) for the loan has been opened to scheduled commercial banks, financial institutions, and non-banking financial companies (NBFCs) in which the Government of India holds a controlling stake. The proposed loan will have a total tenure of four years, including a moratorium period of two years. After the moratorium, the loan will be repaid over the remaining two years.
LSPDCL has stated that the selection of lenders will be based on the lowest effective interest rate offered. The effective rate will be calculated by adding a quoted spread to a benchmark rate, such as the RBI Repo Rate or the bank’s Marginal Cost of Funds-based Lending Rate (MCLR). Importantly, the quoted spread must remain fixed for the entire duration of the loan, providing clarity and stability in repayment terms.
To participate in the bidding process, interested lenders must be registered on the Uttar Pradesh e-Procurement portal. The tendering process will follow a single-stage, two-envelope system, which includes a technical bid and a financial bid. The technical bids will be opened first, and only those bidders who qualify technically will be informed about the opening of financial bids.
LSPDCL has also shared a detailed timeline for the bidding process. The RFP was released on January 21, 2026. Queries from bidders will be accepted until February 3, 2026, up to 6:00 PM. A pre-bid meeting is scheduled for February 4, 2026, at 12:30 PM at the LSPDCL Head Office in Lucknow. The deadline for e-tender submission is February 17, 2026, up to 6:55 PM, and the technical bids will be opened on February 18, 2026, at 12:30 PM. The date for opening financial bids will be communicated later to qualified bidders.
Bidders must ensure that their offers remain valid for at least 120 days from the submission deadline. All official correspondence and submission of hard copy documents are to be addressed to the Chairman of LSPDCL at its office in Vibhuti Khand, Gomti Nagar, Lucknow. Further details and updates related to the tender are available on the official Uttar Pradesh e-Procurement portal and the LSPDCL website.
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