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India Solar, Wind, Biomass, Biofuels – EAI

IREDA

Latest News for Energy Efficiency, Solar, Wind, Biomass Power, Biofuels, Waste to Energy

Indian Renewable Energy Development Agency Ltd - Established in 1987, it promotes, develops and extends financial assistance for Renewable Energy and Energy Efficiency/Conservation Projects.

Three key objectives for IREDA:

1. To give financial support to specific projects and schemes for generating electricity and / or energy through new and renewable sources and conserving energy through energy efficiency.

2. To maintain its position as a leading organization to provide efficient and effective financing in renewable energy and energy efficiency / conservation projects.

3. To increase IREDA's share in the renewable energy sector by way of innovative financing.

IREDA is the implementation agency for finance scheme for off-grid projects under JNNSM. www.ireda.in

Financing from IREDA for solar PV power plants

IREDA provides soft loans for a number of solar PV based power generation projects and for solar PV based products. Please refer to this page for more details on IREDA’s loans for SPV systems - http://www.ireda.gov.in/spv_systemsFaq.asp?value=1 .

A reading of the contents in the page provided above will show that IREDA’s soft loans are usually not available for those solar PV products / projects that have availed capital subsidy, but in the case of SPV power generators alone, soft loans are available for even those systems that have availed capital subsidy. It is recommended that a prospective SPV captive power system installer checks with IREDA on the applicability of this unique provision for his / her system. For our calculations of cost / economics in Chapter 5, we have conservatively taken a commercial interest rate and not the soft interest rate provided by IREDA.

 

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