Lucknow Solar Power Development Corporation (LSPDCL), a joint venture company of the Solar Energy Corporation of India (SECI) and Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA), has invited bids to secure a term loan of ₹300 million (~$3.31 million) from scheduled commercial banks or financial institutions.

The loan proceeds will be used to meet CAPEX requirements for developing infrastructure at solar power parks in Kanpur Dehat and Kanpur Nagar, Uttar Pradesh.

The first project is a 75 MW solar park under development in Kanpur Dehat, while the other is a 35 MW solar park under development in Kanpur Nagar.

The loan’s tenure will be four years.

The last date to submit the bids online is February 17, 2026. Bids will be opened the following day.

Bidders are exempted from paying any earnest money deposit.

Established in 2015, LSPDCL’s primary aim is to strategize, develop, operate, and maintain solar parks in Uttar Pradesh.

Bidders should be scheduled commercial banks or financial institutions, including non-banking financial companies, with the Government of India and its subsidiaries holding controlling stakes.

The bidders’ net worth during the last three years should not be less than their paid-up capital.

Bidders should quote for the entire amount of ₹300 million (~$3.31 million) of debt financing.

The loan agreement should be signed by both parties within 30 days of the receipt of the bidder’s letter of acceptance, in accordance with the mutually agreed terms and conditions, subject to the interest rate determined through the bidding process.

In 2024, LSPDCL had floated a tender seeking consultancy firms to establish a project management unit to assist in the implementation, execution, and monitoring of both operational and future solar power projects/solar parks.

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