IREDA’s Long-Term Project Financing Scheme for Solar Energy Projects in India
IREDA’s Long-Term Project Financing Scheme for Solar Energy Projects in India.
Objective:
To provide long-term financing for solar energy projects, including solar PV and solar thermal projects, to promote the development and deployment of renewable energy in India.
Eligibility Criteria:
1. Project Developer: Any Indian entity, including private companies, public sector undertakings, and government agencies.
2. Project Location: Anywhere in India.
3. Project Capacity: Minimum 1 MW.
4. Project Technology: Solar PV or solar thermal technology.
5. Project Completion: The project should be completed within 12-18 months from the date of loan disbursement.
Documents Required:
1. Project Report: A detailed project report, including technical, financial, and environmental details.
2. Business Plan: A comprehensive business plan, including market analysis, financial projections, and management team details.
3. Financial Statements: Audited financial statements for the past 3 years.
4. Collateral Security: Collateral security, such as land, buildings, or equipment, to cover at least 25% of the loan amount.
5. Government Approvals: Copies of government approvals, such as environmental clearance and grid connectivity approval.
6. Technical Specifications: Technical specifications of the project, including equipment details and system design.
Loan Terms:
1. Loan Amount: Up to 70% of the project cost.
2. Interest Rate: Competitive interest rates, currently ranging from 9.1% to 10.5% per annum.
3. Repayment Tenure: Up to 15 years.
4. Moratorium Period: Up to 12 months.
Additional Benefits:
1. Interest Subsidy: Interest subsidy of up to 3% per annum.
2. Capital Subsidy: Capital subsidy of up to 30% of the project cost, subject to a maximum of ₹2.5 crore per MW.
Application Process:
1. Pre-Feasibility Report: Submit a pre-feasibility report, including project details and feasibility studies.
2. Detailed Project Report: Submit a detailed project report, including technical, financial, and environmental details.
3. Loan Application: Submit a loan application, including project financing details.
4. Sanction: IREDA will sanction the loan after due diligence and approval.
Team – Intellex Strategic Consulting Private Limited
Sudheendra Kumar ( Mobile /WhatsApp: 91-9820088394)
Follow us on LinkedIn:
https://www.linkedin.com/company/intellexconsulting
https://www.linkedin.com/company/intellexcfo-com/
https://www.linkedin.com/company/venture-streets/
https://www.linkedin.com/company/growmoreloans-com/
