BMC Solicits Bids for Rs 90 cr Loan for Multiple Renewable Energy Projects

MPPCL Issues Tender for Procurement of 500 MW Energy Storage Capacity

Bhopal Municipal Corporation has issued a tender to invite loans for the installation of 20 MW solar projects (Phase I), 21 MW solar projects (Phase II), 15 MW wind energy projects and 1 MW rooftop solar projects.  The bids are invited from nationalized banks, private banks, financial institutions and non-banking financial companies for long-tenure term loans of Rs 90 cr towards the set up of these plants.

The last date for submission of bids is March 24, 2023.

As per tender documents, the interest documents should be linked with the MCLR (Marginal Cost of Funds Based Lending Rates) with half yearly reset with all the other charges. There will be no prepayment penalty or processing charges.

Recently, in February 2023, the Indore Municipal Corporation’s (IMC) had issued its first set of green bonds. They were oversubscribed by 5.90 times after they raised about Rs 720 crore.

IMC is the first urban body in India to introduce green bonds, looking to raise Rs 244 crore for the installation and operation of solar plant of 60 MW in Khargone district of Madhya Pradesh. This is said to be the largest solar plant for pumping and supplying water from River Narmada.

In January 2023, the mayor-in-council of the Bhopal Municipal Corporation (BMC), Malti Rai had given the green signal to a 15 MW wind power and a solar energy project with 21 MW of capacity slated for establishment in Neemuch, Madhya Pradesh.