IREDA
GUIDELINES
-
Loan
Assistance
Indian
Renewable
Energy
Development
Agency,
New
Delhi,
extends
loan
on
soft
terms
through
designated
intermediaries
for
financing
of
installation
of
solar
thermal
devices.
CORE
OBJECTIVE
Encourage
large
scale
usage
of
low
grade
solar
thermal
devices
and
promote
commercialisation.
Introduce
the
concept
of
market
orientation
for
successful
implementation
of
the
programme,
resulting
in
direct
interaction
between
users
and
manufacturers.
Ensure
savings
of
electricity/fuel
gas
in
domestic
sector
and
other
fuels
such
as
oil/gas/coal
etc.
in
commercial
and
industrial
sector
through
large
scale
use
of
these
devices.
DETAILS
OF
SCHEME
Programme
supports
supply
of
solar
water
heaters,
solar
air
heaters/dryers,
solar
timber
kilns
and
solar
stills
for
hot
water,
hot
air
and
supply
of
distilled
water
respectively
based
on
solar
flat
plate
collectors
and
evacuated
tube
collectors.
Solar
steam
cookings
are
also
eligible.
Non-governmental
organizations,
co-operative
societies,
corporate
bodies,
institutions,
industries,
etc.
are
eligible
for
the
programme.
Solar
systems
under
the
scheme
must
conform
to
Burea
of
Indian
Standards'
specifications.
Cost
of
complete
system
determined
depending
on
type
and
size
of
the
system
and
other
subsystems.
FINANCING
NORMS
FOR
USERS/INTERMEDIARIES
General
Eligibility
Conditions
All
types
of
applicants,
who
have
borrowing
powers
and
powers
to
take
up
renewable
energy
and
energy
efficiency
projects
as
per
their
charter
are
eligible
to
avail
financial
assistance
from
IREDA
except
the
following:
-
Government
Departments
-
State
Electricity
Boards
(SEBs/utilities))
unless
they
are
restructured
or
are
in
the
process
of
restructuring
and
are
also
eligible
to
borrow
from
REC/PFC.
-
Individuals,
proprietory
concerns
and
partnership
firms
unless
security
of
bank
guarantee
is
provided
-
Applicants
with
accumulated
losses
(without
taking
into
account
effect
of
re-valuation
of
assets,
if
any)
as
per
audited
annual
accounts
of
the
immediate
preceding
financial
year
unless
security
of
bank
guarantee
is
provided.
-
There
is
erosion
of
paid
up
equity
share
capital
of
the
applicant
as
per
the
latest
annual
report.
-
Applicants
whose
existing
debt-equity
ratio
(total
borrowings
[other
than
unsecured
loans
and
working
capital
loans)
to
net
worth]
exceeds
3:1
after
taking
into
account
the
proposed
borrowings
from
IREDA.
-
Loss-making
applicants
as
per
audited
annual
accounts
of
the
immediate
last
year
of
operation
unless
security
of
bank
guarantee
is
provided.
-
Trust/societies
with
accumulated
revenue
deficit
or
revenue
deficit
immediately
during
the
past
year
unless
security
of
bank
guarantee
is
provided.
-
Applicants
who
are
in
default
in
payment
of
dues
to
financial
institutions,
banks,
BDFCs
and/or
IREDA
at
the
time
of
submission
of
application.
-
Applicants/group
companies
and/or
main
promoters
of
the
applicant
company
which
are
in
default
in
payment
of
IREDA
dues
at
the
time
of
submission
of
application.
-
Applicants/group
companies
classified
as
willful
defaulters
as
defined
by
RBI.
-
Refinancing
-
Projects
commissioned
prior
to
the
date
of
registration
of
application
by
IREDA.
-
Second-hand
project,
equipment
and
machinery.
-
Cost
over-run
financing.
-
Applicants/group
companies
who
had
availed
OTS
from
IREDA.
-
Applicants/group
companies
and/or
main
promoters
of
the
applicant
company
convicted
by
courts
for
criminal/economic
offences
or
under
national
security
laws.
-
Applicants
registered
outside
India.
-
Companies
which
do
not
have
minimum
paid
up
capital
of
Rs.
1
lakh
and
Rs.
5
lakhs
or
such
higher
paid
up
capital
as
may
be
prescribed
for
provate
and
public
companies
respective,y.
-
The
minimum
loan
eligibility
from
IREDA
would
be
regulated
as
under
| Sector |
Users |
Intermediaries |
Manufacturers |
| Low
grade
solar
thermal
systems |
Rs.
5
lakhs |
Rs.
10
lakhs |
Rs.
10
lakhs |
Loans
are
available
through
approved
intermediaries
of
IREDA.
For
details
please
visit
website
of
IREDA
http://www.ireda.nic.in
|