Loan For Solar Power Plant
Loan For Solar Power Plant
The loan for solar power plant can be availed from several banks. If you are looking for a loan then you should read this information regarding a scheme, through which you can get a loan for a solar power plant. The scheme is called Solar-PM KUSUM Scheme. The Purpose of the scheme is to set up Decentralized Ground/ Stilt mounted Grid connected Solar or other Renewable Energy based Power Plants (REPP) of capacity 500KW to 2MW.
Who is eligible for the scheme Eligibility,
- Individual Farmer
- Group of Farmers
- Co-operatives
- Panchayat
- Farmer producer organization (FPO)
- Water User Associations
Through this scheme you can get Term solar power project loan/Working capital against receivables/NFB-LC/BG. Margin of Term Loan/ BBG (Bank Guarantee) can be 25% and OD Book Debts can be 40. Primary Security should be Hypothecation of Plant & Machineries installed and as collateral 150% of limit collateral security is required. The period for Repayment can be 10 years (including moratorium max 12 months). The Processing Charges Upto Rs 3 Lakh is Nil and above Rs 3 Lakh is 0.30 % under the scheme. The Upfront Fee Upto Rs 3 Lakh is Nil and Above Rs 3 Lakh is 50% of 1.25% (i.e., 0.625 %). The interest rate is given below in the table.
Interest Rate
UptoRs3,00,000/-
Above Rs3.00 lakh to Rs10.00 lacs
Above Rs10 lakhs upto.100 lakhs
Above Rs100.00 Lakhs
MCLR + 1.35%
MCLR + 2.50%
MCLR + 3.00%
As per risk rating of borrower