IND KISAN SAUR SHAKTHI (PM KUSUM COMPONENT- A)
IND KISAN SAUR SHAKTHI (PM KUSUM COMPONENT- A)
Target Group: |
Individual farmers, group of farmers, cooperatives, Panchayats, Farmer Producer Organizations (FPO), Water User Associations (WUA).
In case the farmers/ group of farmers/ cooperatives/ panchayats / Farmer Producer Organizations (FPO)/ Water User associations (WUA) etc. are not able to arrange equity required for setting up the REPP, they can opt for developing the REPP through developer(s) or even through local DISCOM, which will be considered as RPG (Renewable Power Generator). |
Objective: |
Setting up of Decentralized ground/Stilt Mounted grid Connected Solar or other renewable energy based power plants (REPP) of capacity 500 kW to 2 MW on Barren / uncultivable land/ Pastureland and Marshland backed by PPA (Power Purchase Agreement) with Distribution Companies (DISCOM). |
Type Of Facility:
|
Term Loan. |
Quantum of Loan: |
Project cost should be in accordance with the cost as prescribed by MNRE/State Govt. from time to time.
Maximum 70% of the project cost (LTV @70%) Maximum Loan Component under the Scheme shall be restricted to Rs 10.00 Crores. |
Margin: |
30% of the project cost |
Repayment Period: |
Maximum of 15 years including moratorium period. |
Processing Charge: |
Upto Rs.25000/-: Nil
above Rs.25000/-: 0.50% of the limit sanctioned + Applicable GST. |
Rate of Interest: |
Please refer the Lending Rates link on home page in our Bank’s Website www.indianbank.bank.in. |
Security: |
Primary: Mortgage of Project Land and Building (except forest land).
Hypothecation of Plant & Machinery Hypothecation of Receivables based on Tripartite Agreement with DISCOM and farmer backed by ESCROW arrangement under firm PPA. Collateral: Assignment of PPA. For proposals upto Rs 2.00 Crores to be covered under CGTMSE. Guarantee: Personal /Corporate Guarantee (as the case may be) of the Proprietors/Partners /Promoters /Directors /Parent Company etc. |
Subsidy/ Grant: |
No Subsidy /Grant available under Component A. |
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