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PNB’s Sche
2020-11-05T06:22:04
Future Green Power Solutions Pvt. Ltd.
PNB’s Scheme for Financing ROOFTOP PV SOLAR POWER PROJECTS The Government of India has set an ambitious target

PNB’s Scheme for Financing ROOFTOP PV SOLAR POWER PROJECTS

The Government of India has set an ambitious target of installation of Grid Connected Rooftop Solar Photovoltaic projects with capacity of 40 GW out of the total target of 175GW of renewable Energy Capacity over the next five years by 2022. PNB has availed a line of credit of $ 500 Million from Asian Development Bank for financing Rooftop Photovoltaic Solar Power Projects. A customized scheme has been formulated by the bank. The benchmark parameters and terms and conditions under the scheme are given below:

 

 

 

S.No.

Parameter

Details

1

Target Group

Sole proprietorship firms, partnership firms including Limited    Liability   Partnership   (LLP),               Limited Companies, Private Limited companies, Trusts, Associations, Special Purpose Vehicle(SPV), Non

Banking Finance Companies( NBFCs) and Registered Societies.

2

Branches     identified     for handling this business

All    Large    Corporate    Branches/Mid   Corporate

Branches/Exceptionally Large Branches as  well as identified branches by various circles

3

Margin

Minimum 30% with a suitable upfront contribution of the required margin.

4

Type of Facility

1.      Term Loan: Need Based

2.      Working     Capital     under    Receivables: Need Based

3.      Non Fund Based (Letter of Credit/Letter of Guarantee): Need Based

5

Pricing

Minimum of One Year MCLR i.e.@8.35% p.a. at present upto a maximum spread of 30 to 50 bps based on risk rating of the borrowing firm/company.

6

Fixed      Asset                Coverage Ratio(FACR) in a year

Minimum 1.25

7

Loan Repayment Period

Door to Door tenor of maximum 15 years which comprises construction / installation, moratorium and

repayment period.

8

Moratorium

Moratorium: 1 year after 1st disbursement or 4 months from COD, whichever is earlier.

9

Primary Security

Exclusive  first charge on     fixed assets (present as  well as future ) relating to the project/ program .

10

Collateral Security

1. Loan for Rooftop Solar Project to MSME up


 

 

to Rs 10 lakh shall be without collateral security as per Govt. Guidelines.

2. For others: Notwithstanding the security stipulated , the sanctioning authority may where it is deemed necessary, on a case to

case basis may stipulate such collateral security as required.

11

Guarantee

Personal guarantee of proprietor/ partner/ director to be obtained. In case of SPV corporate guarantee of Promoter Company shall be explored.

12

Debt      Service              Reserve Account (DSRA)

DSRA equivalent to minimum of 3 months’ principal and interest) to be maintained after the date of commercial operations

13

Statutory Clearances and PPA

The required project agreements (including PPA)/ clearances/ approvals should be in place, before disbursement of 1st tranche for each individual loans

under the overall sanctioned credit facility.

14

Others

Compliance with ADB Guidelines on procurement and Environment,Health,Safety,Social,Gender, & Child Labour

 

Regards 

Future Green Power Solutions Pvt. Ltd.

contact Person:- Mr. Ajit singh 

Contact Person :- 75972716566

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