Financing Renewable Energy Equipment | Loans, Benefits & Support

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Renewable energy equipment

RENEWABLE ENERGY EQUIPMENTS

Financing solar energy based pump set loans
Purpose	Loan will be granted for installation of solar water pumping system.
Eligibility	The farmers' land should have adequate source of water. In case, any public/Government source is being used like canal water, permission from government/irrigation department should be produced to lift the water. In case of Wells they should have sufficient recouping / recharging capacity to irrigate the area proposed to be brought under irrigation. Farmer should own an economic land holding with a minimum of 10 acres. However, loans can be considered even if the benefiting area is less than 10 acres provided the farmer is able to sell surplus water. Components: Solar PV panel One of the following motor pump sets compatible with the photovoltaic array: Surface mounted centrifugal pump set, Submersible pump set, Floating pump set, Any other type of motor-pump set, after approval from Ministry of New & Renewable Energy (MNRE).
Quantum of Loan	Maximum 75% of the cost of the equipment.
Margin	Minimum 25% If subsidy is available, the same can be considered as margin
Security	Loans up to Rs.1.60 lakh – Hypothecation of equipment /assets financed. Loans above Rs.1.60 lakh- Hypothecation of equipment /assets financed and; Mortgage of land (Accepted value of land should be more than 100% of loan amount) &/ or third party guarantee (means should not be less than 100% of loan amount).
Repayment	Maximum period of 07 years
Forms & Documents	Appropriate DPN note, Deed of Guarantee, Letter of continuity, Hypothecation agreement, Mortgage deed ,Letter of general lien and setoff, Declaration/undertaking for Agriculture advance, Undertaking from borrower /Guarantor for disclosure to CIBIL and any other document stipulated in sanction
Solar Water Heater
Purpose	To purchase brand new solar water heating systems with necessary accessories for usage in Agro processing Units.
Eligibility	Small & Marginal farmers/share croppers/tenant farmers/ agri-entrepreneurs.
Margin	Minimum 15% of the cost of equipment’s including the cost of accessories. If subsidy is available, the same can be considered as margin
Loan Amount	Maximum 85% of the project cost including the cost of accessories
Security	Loans up to Rs.1.60 lakh – Hypothecation of equipment /assets financed. Loans above Rs.1.60 lakh- Hypothecation of equipment /assets financed and; Mortgage of land (Accepted value of land should be more than 100% of loan amount) &/ or third party guarantee (means should not be less than 100% of loan amount).
Repayment	Maximum period of 05 year
Forms & Documents	Appropriate DPN note, Deed of Guarantee, Letter of continuity, Hypothecation agreement, Mortgage deed ,Letter of general lien and setoff, Undertaking from borrower /Guarantor for disclosure to CIBIL , Declaration/undertaking for Agriculture advance and any other document stipulated in sanction
Solar Home Lightening Scheme
Purpose	Solar home lighting system aims at providing electricity for operating LED lights and small DC loads for specified hours of operation per day in rural farms. Solar Lighting Models : Model-I One white LED luminaire Model-II Two white LED luminaire Model-III Two white LED luminaire & one DC fan of wattage I upto 10W Model-IV Four white LED
Eligibility	Small and Marginal farmers /share croppers/tenant farmers/ Agri-entrepreneurs
Quantum of Loan	Maximum 85% of the project cost including the cost of accessories
Margin	Minimum 15% of the cost of equipment’s including the cost of accessories. If subsidy is available, the same can be considered as margin.
Security	Loans up to Rs.1.60 lakh – Hypothecation of equipment /assets financed. Loans above Rs.1.60 lakh- Hypothecation of equipment /assets financed and; Mortgage of land (Accepted value of land should be more than 100% of loan amount) &/ or third party guarantee (means should not be less than 100% of loan amount).
Repayment	Maximum period of 05 years
Forms & Documents	Appropriate DPN note, Deed of Guarantee, Letter of continuity, Hypothecation agreement, Mortgage deed ,Letter of general lien and setoff, Undertaking from borrower /Guarantor for disclosure to CIBIL , Declaration/undertaking for Agriculture advance and any other document stipulated in sanction
Gobar/Bio Gas Plant
Purpose	To provide hassle-free and adequate credit for the construction of bio-gas/Gobar gas plant and to acquire accessories like stove, lamp, etc. by way of term loan.
Eligibility	The beneficiary farmers should have minimum number of cattle herds in relation to the size of the plant and should have proper site for erection of the Plant.
Quantum of Loan	The loan amount will depend upon the size and type of the plant and NABARD project unit cost.
Margin	Up to Rs.1.60 lakh - Nil Above Rs.1.60 lakh- 10% (Subsidy, if any, will be part of the margin)
Security	Loans up to Rs.1.60 lakh – Hypothecation of equipment /assets financed. Loans above Rs.1.60 lakh- Hypothecation of equipment /assets financed and; Mortgage of land (Accepted value of land should be more than 100% of loan amount) &/ or third party guarantee (means should not be less than 100% of loan amount).
Repayment	Maximum period of 07 years
Forms & Documents	Appropriate DPN note, Deed of Guarantee, Letter of continuity, Hypothecation agreement, Mortgage deed ,Letter of general lien and setoff, Undertaking from borrower /Guarantor for disclosure to CIBIL , Declaration/undertaking for Agriculture advance and any other document stipulated in sanction.