One of the major hurdles for installing Solar Power Plants is its initial investment (Capex) at times.
Financial Assistance
Financial Assistance
One of the major hurdles for installing Solar Power Plants is its initial investment (Capex) at times. We coordinate multiple provisions provided by the Banks and Financial Institutions to address this concern. Though the approval for the said credit facilities are at the discretion of the lending institution , guidance and support shall be provided from our end by understanding the requirement and financial assessment. The schemes available for different clientele is given hereunder for a broad idea.
Residential Rooftops
The residential customers who install the solar power plants under PM Suryaghar subsidy program can get financial assistance from 7 designated Nationalised Banks.
The key points of the scheme are:
- Collateral free – No Securities Requires
- Low Interest Rate – 7 % for loans upto Rs 2.00 Lacs
- Loan Tenor upto 10 years and upto 75% of the project
- Applicant Age Less than 65 yes
- CIBIL score of 700 +
- Quick online processing and a branch visit
- Own the rooftop wherein the solar plant to be installed
Commercial Rooftops
The Commercial premises which includes Industrial Units , Business Units like retail outlets or offices are paying a substantial amount of their income as Electricity Bill nowadays. The normal business premises other than Manufacturing Units are connected under Commercial Tariffs by KSEB which is charging more than Rs 11/- unit and Electricity is hitting the top spots in the expense chart. There are various schemes available for the commercial users to avail lucrative funding possibilities without much hassles.
The key points of the available schemes are:
- Simply pay the Monthly Electricity Bill as EMI
- Collateral Free- No Securities required
- Low Interest Rate – 7 to 8.30 % p.av
- Quick Processing
- Avail Tax Benefits and GST Input Credit so that the Effective Initial Investment is ZERO
- Project Break Even period is hardly 2 years- 4 years only with a free power for 25 years
- Can be installed on a Rented /Leased property as well
The above points are applicable for major chunk of the Business Units as they are registered under MSME (Udyam). The entities other than MSME s will have a different assessment method which is one-to-one basis.
