Scheme for financing of Solar Power Projects
Energy Security is key to economic growth to any county. India is blessed with abundant solar energy, if harnessed efficiently, the country is capable of producing trillions-kilowatts of energy. Rajasthan received maximum solar radiation intensity in India with very low average rainfall. Therefore, Rajasthan is likely to emerge as the global hub for solar power. The financial scheme provided by the state to solar power generation projects are enlisted as follows:
- Setting up of solar power projects sanctioned under guidelines of MNRE/National Solar Mission (NSM)/ Rajasthan Solar Policy-2014.
- Setting up of solar power projects in Rajasthan for sale to Discoms of Rajasthan on the tariff determined by RERC through competitive bidding process.
- Utility grid power projects for captive use/sale to 3rd party/states other than Rajasthan through proper access.
- Setting up of Rooftop/off grid PV solar power projects connected to LT under Net Metering Scheme as per guidelines of RERC.
- Power Purchase Agreement(PPA) for the entire period should have been signed upfront to the satisfaction of the corporation.
- Promoter should have satisfactory record of repayment and should not be a defaulter to any financial institution/bank.
- Minimum size of the project shall be 1 MW. Rooftop/off grid solar power project of 0.5 MW or more for captive uses shall also be eligible.
- Guarantee/Warrantee should be available under EPC contract/suppliers of panels, to the satisfaction of the corporation.
- Loan of up to 70% of the total project cost.
- Rate of interest will be prevailing rate of the corporation.
- The maximum period of repayment will be 10 years including moratorium pf 6 to 12 months. Implementation period shall be up to 2 years.
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