IREDA Solar Financing NEW.pdf - LOAN SCHEME FOR FINANCING ROOFTOP SOLAR PV GRID CONNECTED INTERACTIVE POWER PROJECTS(INDUSTRIAL COMMERCIAL AND

IREDA Solar Financing NEW.pdf - LOAN SCHEME FOR FINANCING...

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LOAN SCHEME FOR FINANCING ROOFTOP SOLAR PV GRID CONNECTED/ INTERACTIVE POWER PROJECTS (INDUSTRIAL, COMMERCIAL AND INSTITUTIONAL) Financial & Operational Guidelines
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06.07.2015 FINANCIAL & OPERATIONAL GUIDELINES Page 2 of 7 Table of Contents 1. Eligible Projects for Assistance .............................................................................................................. 3 2. Application documentation guidelines ................................................................................................. 4 3. Credit Rating, Interest Rates etc. ........................................................................................................... 5 4. Project Monitoring & provision of Lender’s Engineer .......................................................................... 6 5. Other Guidelines. ................................................................................................................................... 7
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06.07.2015 FINANCIAL & OPERATIONAL GUIDELINES Page 3 of 7 1. Eligible Projects for Assistance I. Scheme is available for all Grid connected/interactive Solar PV projects located on Rooftops. II. Applications can be submitted under Aggregator Category and Direct Category. III. Aggregator Category: a. Application can include either single project or aggregate multiple projects. b. Minimum project capacity to be submitted shall be at least 1000 kWp. c. Minimum capacity of sub projects under this mode shall not be less than 20 kWp. IV. Direct Category: a. Applicants shall include projects from single roof owners only. b. Minimum project capacity to be submitted shall be at least 1000 kWp. V. General Applicant Eligibility norms. Eligible Entities/ Categories as per IREDA norms shall include the following. Private Sector Companies/ firms Central Public Sector Undertaking (CPSU) State Utilities/ Discoms/ Transcos/ Gencos/ Corporations Joint Sector Companies Applicants, registered in India, falling under any of the above categories, with borrowing powers and powers to take up new and renewable energy and energy efficiency projects as per their Charter, are only eligible to apply for financial assistance from IREDA except for the following: a) Trusts, Societies, Individuals, Proprietary concerns and Partnership firms (other than Limited Liability Partnerships, LLPs). However, they can be considered for financing only if they provide Bank Guarantee / Pledge of FDR issued by Scheduled Commercial Banks as described in RBI Act for the entire loan. b) Loss making applicants and / or, Applicants with accumulated losses (without taking in to account effect of revaluation of asset, if any) as per audited Annual Accounts of the immediate preceding financial year of operation. However, they can be considered for financing only if they provide security of Bank Guarantee / Pledge of Fixed Deposit Receipt (FDR) issued by Scheduled Commercial Bank as described in RBI Act for the entire loan. c) Applicants who are in default in payment of dues to Financial Institutions, Banks, NBFCs and/or IREDA. d) Applicants/ Group Companies and/or Core promoters of the applicant company who Default in payment of IREDA dues and/ or defaults of other banks/FI. Classified as willful defaulters as defined by RBI/ classified by other FIs and/ or, Had availed OTS from IREDA and/ or, from other Banks/FI.
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