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Indian coal miner seeks equity partners for 4 GW solar fab

From pv magazine India

Coal India Ltd. (CIL), a state-owned coal miner that produces around 83% of India’s overall coal production, is looking for equity partners to implement and operate a proposed 4 GW solar PV ingot-wafer-cell-module manufacturing facility in India.

The proposed solar gigafab is part of CIL’s diversification initiatives. CIL already has formed a special-purpose vehicle (SPV), CIL Solar PV Ltd., to take up the proposed solar PV manufacturing project. And it is in the process of participating in a tender to set up the fab under the Ministry of New and Renewable Energy’s Production Linked Incentive (PLI) scheme.

The miner has invited proposals from willing parties as it seeks to shortlist the prospective equity partner to implement and operate the 4 GW facility. 

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“The purpose of this request for qualification (RFQ) is to seek interest from the prospective parties for collaborating with CIL for its proposed solar PV manufacturing project and to shortlist potential players from amongst the applicants for consideration in the next stage of selection,” CIL said in the tender document. “Based on the responses received from this RFQ, CIL may run a subsequent selection process, wherein discussions may be held with the shortlisted players on the contour and broad terms of the proposed partnership upon sharing of project-specific information by CIL to the shortlisted players on a confidential basis after signing of non-disclosure agreement, followed by a request for proposal process for final selection of the equity partner from amongst the shortlisted players.”

CIL has conducted a detailed market assessment exercise, followed by a pre-feasibility study for the overall financial assessment of the proposed project. It is in advanced discussions with selected states in India for site identification and finalization.

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Source: pv magazine