View
214
Download
0
Tags:
Embed Size (px)
Citation preview
Indian Renewable Energy Development Agency Ltd. April 26, 2010 1MNRE’s Solar Off-Grid Scheme May 6, 2010 1
Solar Off-Grid Scheme
Scheme of MNRE for Promotion of Solar Off-Grid (Photovoltaic & Thermal)
& Decentralised Applications
Under JNNSM
Indian Renewable Energy Development Agency Ltd. April 26, 2010 2MNRE’s Solar Off-Grid Scheme May 6, 2010 2
Objectives• To promote off-grid applications of solar energy (both SPV and Solar
Thermal) for meeting Phase-I targets of the National Solar Mission.
• To create awareness and demonstrate effective and innovative use of Solar systems for individual/ community/ institutional applications.
• To encourage innovation in addressing market needs and promoting sustainable business models.
• To provide support in flexible demand driven mode to channel partners and potential beneficiaries, within the framework of boundary conditions.
• To create a paradigm shift needed for commoditization of off-grid solar applications.
• To support consultancy services, seminars, symposia, training, awareness campaigns, human resource development, etc.
Indian Renewable Energy Development Agency Ltd. April 26, 2010 3MNRE’s Solar Off-Grid Scheme May 6, 2010 3
Scope• Off-Grid Solar PV
– Up to 100KWp per site
• Off-Grid & Decentralised Solar Thermal– As specified by Government from time to time
• Mini-Grids for Rural Electrification– Up to 250 KW
• To promote technology upgradation in SME– Projects involving improvement in technology / expansion in
production facilities/working capital loans
Indian Renewable Energy Development Agency Ltd. April 26, 2010 4MNRE’s Solar Off-Grid Scheme May 6, 2010 4
Financing pattern
20%* Promoters’ Contribution
30%* Capital Subsidy
50%* Interest Subsidy
100%* TOTAL
* Percentage of Project Cost
Indian Renewable Energy Development Agency Ltd. April 26, 2010 5MNRE’s Solar Off-Grid Scheme May 6, 2010 5
Channel Partners• Renewable Energy Service Provider Companies
(RESCOs)
• Financial Institutions (acting as Aggregators)
• Financial Integrators
• System Integrators
• Programme Administrators
Indian Renewable Energy Development Agency Ltd. April 26, 2010 6MNRE’s Solar Off-Grid Scheme May 6, 2010 6
Accreditation of Channel Partners
Rating by a Rating Agency may be considered for Accreditation of Channel Partners
MNRE
Channel partner(other than Bank /
FI)
Accreditation methodology by MNRESeeking Accredition
Grant of Accredition
Indian Renewable Energy Development Agency Ltd. April 26, 2010 7MNRE’s Solar Off-Grid Scheme May 6, 2010 7
Approval of Project
• Formulation of Project by Channel Partner, within Boundary Conditions specified by MNRE
• Project Approval Committee to be set up by MNRE for screening & approving projects
• Only PAC approved projects to be eligible for Subsidies under the Scheme
Indian Renewable Energy Development Agency Ltd. April 26, 2010 8MNRE’s Solar Off-Grid Scheme May 6, 2010 8
Project Approval
Seeking Project Approval
MNRE
PAC
Channel partner(other than Bank / FI)
Grant ofProject Approval
Formulation of Project
within Boundary Conditions specified by MNRE
Indian Renewable Energy Development Agency Ltd. April 26, 2010 9MNRE’s Solar Off-Grid Scheme May 6, 2010 9
Interest Subsidy
• IREDA to be the Nodal Point for providing Interest Subsidy
• MNRE to place funds for Interest Subsidy with IREDA
• IREDA to provide funds to scheduled commercial banks & NBFCs by way of refinance @ 2% p.a.
• Scheduled commercial banks & NBFCs to lend to borrowers @ 5% p.a. for PAC approved projects
Indian Renewable Energy Development Agency Ltd. April 26, 2010 10MNRE’s Solar Off-Grid Scheme May 6, 2010 10
Process Flow
Indian Renewable Energy Development Agency Ltd. April 26, 2010 11MNRE’s Solar Off-Grid Scheme May 6, 2010 11
Interest Subsidy: Refinancing Partners
Indian Renewable Energy Development Agency Ltd. April 26, 2010 12MNRE’s Solar Off-Grid Scheme May 6, 2010 12
Interest Subsidy: Refinancing partners IREDA shall provide funds received from MNRE
to refinancing institutions for loans granted by them
NABARDRRBs
Regional Rural Banks
NHBHFCs
Housing Finance Companies
SIDBISFCs
State Financial Corporations
Indian Renewable Energy Development Agency Ltd. April 26, 2010 13MNRE’s Solar Off-Grid Scheme May 6, 2010 13
Interest Subsidy
Indian Renewable Energy Development Agency Ltd. April 26, 2010 14MNRE’s Solar Off-Grid Scheme May 6, 2010 14
Capital Subsidy: Credit Linked
• IREDA to make available, up front, the funds received from MNRE, to primary lending institutions
• PLI to credit borrower’s account with the capital subsidy amount after confirming successful implementation of project
• PLI to provide Utilisation Certificate to IREDA
Indian Renewable Energy Development Agency Ltd. April 26, 2010 15MNRE’s Solar Off-Grid Scheme May 6, 2010 15
Capital Subsidy
Indian Renewable Energy Development Agency Ltd. April 26, 2010 16MNRE’s Solar Off-Grid Scheme May 6, 2010 16
Capital Subsidy: Non-Credit Linked
• MNRE to make available Capital Subsidy for PAC approved projects through State Nodal Agencies
Indian Renewable Energy Development Agency Ltd. April 26, 2010 17MNRE’s Solar Off-Grid Scheme May 6, 2010 17
Refinance
• Refinance Agreement between IREDA and Primary Lending Institution
• Refinance from IREDA @ 2% p.a.
• Primary lending institution to provide the loan @ 5% p.a. incorporating Interest Subsidy
Indian Renewable Energy Development Agency Ltd. April 26, 2010 18MNRE’s Solar Off-Grid Scheme May 6, 2010 18
Refinance Scheme Features• Scale of refinance: 100% of amount financed
• Term of refinance: 5 years
• Security: Charge over book debts + collateral / guarantees as may be stipulated by IREDA.
• Repayment: Quarterly
• Minimum amount per claim: Rs.50 lakhs