CIL Invites Bids for $147 MN Loan For 300 MW Solar Project

31 Jan 2025 CW Team

Coal India (CIL) has invited proposals from financial institutions for a loan of Rs 12.17 billion (~$147.05 million) to set up 300 MW ground-mounted solar power project at Gujarat Industries Power Company’s (GIPCL) solar park in Khavda, Gujarat.

Bids must be submitted by February 19, 2025. Bids will be opened on February 20. The loan must be approved within 45 days. The loan’s tenor must be 11 years, including one year of project construction and a 10-year repayment period. The debt must be disbursed progressively in a 80:20 ratio.

CIL will repay the loan in 40 equal quarterly installments. Bidders must be scheduled commercial banks, non-bank financing companies, or regulated financial institutions. Consortiums of commercial banks, NBFCs, or regulated financial institutions cannot participate.

CIL can draw a lesser amount than the loan tied-up amount based on the project requirements. It can draw partially or entirely, or even cancel the loan agreement without drawal after providing a 30-day intimation.

The credit can be secured against non-current assets, excluding the project land. In 2023, CIL participated in Gujarat Urja Vikas Nigam’s Phase-XXI tender for procuring power from 600 MW grid-connected solar power projects to be set up in GIPCL renewable park at Khavda (GIPCL stage 1).

CIL was awarded 300 MW at the tariff of Rs 2.55 (~$0.029)/kWh to supply the power for 25 years. It entered an “implementation and support” and “land lease” agreement with GIPCL, under which the latter received partial upfront development charges and corpus funds.

The project aims to deliver energy to the 220/400/765 kV substation of the central transmission utility (KPS 2) at the Khavda central transmission utility periphery through the 33/400 kV internal pooling substation of the solar park.

Real Estate

30 Jul 2026

AI: The New Recruit

From getting ideas to evaluating designs, presenting concepts to clients and tracking projects, artificial intelligence (AI) is helping architects work better and faster.“AI allows architects to spend more time doing what only they can do: think critically, synthesise complexity and design with intent,” says Dikshu C Kukreja, Managing Principal, CP Kukreja Architects. “Every minute reclaimed from repetitive processes can be invested in creativity, contextual understanding, interdisciplinary collaboration and innovation – the qualities that define meaningful architecture.”To read the ..

Redevelopment 2.0

In 2017, Mumbai identified 160,000 ageing buildings due for structural audit. Close to half of these were in the Western Suburbs. Redeveloping the oldest and structurally weakest of these would help unlock new housing, much needed given the city’s growing population density and constant developed area of 437.7 sq km. At 30,600 people per sq km in 2024, Mumbai’s density was almost thrice that of Gurugram, and 60 per cent higher than Bengaluru’s.Essentially, Mumbai’s realty market has demand. It has capital. It has realty development potential.Fast forward to 2026. Mumbai has 1,094 regis..

Cost intelligence will become a strategic contributor to project success

As India's construction industry accelerates its digital transformation, integrated platforms, AI and connected data are becoming essential to improving cost certainty, project efficiency and sustainability. Ravi Kumar, Sales Director – India, RIB Software India, shares how digital workflows are reshaping project planning, commercial management and decision-making across the construction value chain.India's construction sector is embracing digital technologies at an unprecedented pace. From your perspective, what are the biggest shifts driving this transformation and how is RIB Software enab..