Coal India Limited (CIL), a Government of India enterprise, has invited online bids via its e-procurement portal to raise a ₹463.38 crore rupee term loan for financing a 100 MW solar power project at Bhadramali, Gujarat. The loan will be used to fund the debt portion of the project, which has an estimated capital cost of ₹579.22 crore and a design life of 25 years. The project will be connected to the grid through the GETCO substation at 66 kV and is expected to generate approximately 258.61 million units annually. The scheduled commissioning date for the project is 20 December 2025.
The tender will follow a two-bid system—techno-commercial and price bids—with no Earnest Money Deposit (EMD) or tender fee required. Bids will remain valid for 120 days from the opening of the techno-commercial bid. Loan repayment will be spread over 20 years in 80 equal quarterly instalments, beginning from the quarter following the commercial operation date. Interest will be payable monthly.
The tender document was published on 11 August 2025 at 5:00 PM, and documents can be downloaded until 2 September 2025 at 5:00 PM. Queries and requests for clarification can be submitted until 18 August 2025, with a pre-bid conference scheduled on the same day at 11:00 AM. Submission of offers will open on 19 August 2025 at 11:00 AM and close on 2 September 2025 at 5:00 PM. The techno-commercial bids will be opened on 3 September 2025 at 11:00 AM, while the date for opening price bids will be communicated later to the technically qualified bidders.
Eligible bidders include any scheduled commercial bank, non-banking financial company (NBFC), or financial institution regulated under an Act of Parliament, with a minimum net worth of ₹500 crore as of 31 March 2025. Consortium bids are not allowed, and bidders must provide relevant registration or licensing documents along with proof of net worth.
The loan terms specify no moratorium period for repayment, no processing or legal fees, and no prepayment charges if a 30-day notice is given. The loan will be secured through the hypothecation of the project’s non-current assets, excluding land. The interest rate offered can be linked either to an internal benchmark, such as the Marginal Cost of Funds-based Lending Rate (MCLR), or to an approved external benchmark like the RBI policy repo rate or government securities yield, with a fixed spread.
Coal India Limited reserves the right to partially draw, fully draw, or even cancel the loan without any drawal, provided the lender is given 30 days’ notice. The disbursement period is set at 18 months from the commercial operation date and may be extended by mutual agreement. The selection of the successful bidder will be based on the lowest net interest rate offered, with tie-breaking criteria applied if necessary.
This tender marks a significant step in CIL’s renewable energy expansion, aligning with its plans to diversify into solar power while securing competitive funding to support long-term sustainability and reduce carbon footprint. this info as per solarquarter.
