UPNEDA issue Tender for RfP for SoE CAPEX requirements for development of infrastructure in Solar Power Parks projects in Kanpur Dehat & Kanpur Nagar – EQ

Summary:

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**1. Business Opportunity Overview**
Lucknow Solar Power Development Corporation Limited (LSPDCL), a joint venture of UPNEDA (Uttar Pradesh) and SECI (Government of India), is seeking proposals from eligible lenders for a term loan of ₹30 Crore. This debt financing is required to meet the capital expenditure (CAPEX) for developing critical infrastructure in two solar power parks located in Kanpur Dehat and Kanpur Nagar, Uttar Pradesh.

– **Borrower:** Lucknow Solar Power Development Corporation Limited (LSPDCL)
– **Financing Required:** ₹30 Crore Term Loan (₹15 Crore for each solar park)
– **Purpose:** To fund infrastructure development (internal roads, drainage, power evacuation, etc.) in two solar parks.
– **Target Lenders:** Scheduled Commercial Banks, Financial Institutions (FIs), and NBFCs with majority shareholding by the Government of India or its subsidiaries.

**2. Strategic Business Rationale for LSPDCL**
LSPDCL is raising this debt to bridge the funding gap for its solar park projects, which are backed by the Ministry of New and Renewable Energy (MNRE).
– **Project Execution:** The funds are critical to completing infrastructure works, enabling the parks to become operational and host solar power generators.
– **Government Support:** Both projects are eligible for Central Financial Assistance (CFA) of 30% of the project cost from MNRE, de-risking the project for lenders.
– **Asset-Backed Lending:** The loan is for specific, tangible infrastructure assets (solar parks) with secured land and government backing.

**3. Key Technical & Commercial Considerations for Lenders**
Financial institutions responding to this RFP must address the following key parameters:

– **Loan Structure:**
– **Tenure:** 4 Years.
– **Moratorium:** 2 Years.
– **Repayment Period:** 2 Years (after moratorium).
– **Amount:** Bidders must quote for the entire amount of ₹30 Crores.

– **Pricing Model (Critical for Bidding):**
– Lenders must quote an interest rate based on a **Benchmark Rate + Spread**.
– **Benchmark Options:** The bidder can choose either the **RBI Repo Rate** or **MCLR** (Overnight, 1M, 3M, 6M, or 1Y).
– **Spread:** The quoted spread (which can be positive or negative) must remain **firm for the entire 4-year tenure** of the loan.
– **No Hidden Costs:** Upfront fees, processing fees, commitment charges, etc., are not payable separately and must be loaded into the quoted spread.

– **Eligibility (Pre-Qualification):**
– Must be a Scheduled Commercial Bank, FI, or specified NBFC.
– Must submit a CA certificate and audited balance sheets (FY 2022-23, 2023-24, 2024-25) proving Net Worth is not less than paid-up capital.
– **Consortium Allowed:** Bids from a consortium (max 3 members) are permitted. The lead partner must meet the Net Worth criteria, and a consortium agreement is mandatory.

**4. Project Details and Security**
Lenders are essentially financing the development of two distinct solar parks. Understanding the underlying assets is key to risk assessment.

| **Project Parameter** | **Kanpur Dehat Solar Park** | **Kanpur Nagar Solar Park** |
| :— | :— | :— |
| **Capacity** | 75 MW | 35 MW |
| **Location** | Village Leharpur, Tehsil Akbarpur | Village Katar, Tehsil Ghatampur |
| **Land** | 308.98 Acres (Government Land) | 161.34 Acres (Government Land) |
| **Land Tenure** | 30-year lease from UP Government | 30-year lease from UP Government |
| **Approved Project Cost** | ₹22.24 Crores | ₹21.90 Crores |
| **Funding Source** | CFA (30%) + Debt (70% of balance) | CFA (30%) + Debt (70% of balance) |

**5. Submission Requirements & Process**
– **Bidding System:** Single Stage Two Envelope System (Technical Bid & Price Bid).
– **Registration:** Mandatory e-tendering registration with U.P. Electronics Corporation Ltd. (UPLC).
– **Submission Mode:** Online via [http://etender.up.nic.in](http://etender.up.nic.in). Hard copies are not accepted (except for original Power of Attorney/Consortium Agreement).
– **Key Dates:**
– **Last Date for Queries:** March 9, 2026 (6:00 PM)
– **Bid Submission Deadline:** March 11, 2026 (6:55 PM)
– **Technical Bid Opening:** March 12, 2026 (12:30 PM)
– **Financial Bid Opening:** To be communicated later.
– **Bid Validity:** 120 days from the last date of submission.

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