Lok Sabha Question No. 4469 (UNSTARRED), answered on 2018-03-22
Subject: Allocation of Funds to IREDA
Ministry: NEW AND RENEWABLE ENERGY
Asked by: DILIP PATEL

## GOVERNMENT OF INDIA

## MINISTRY OF NEW AND RENEWABLE ENERGY

## LOK SABHA

## UNSTARRED QUESTION NO-4469

TO BE ANSWERED ON-22.03.2018

## ALLOCATION OF FUNDS TO IREDA

## 4469. SHRI DILIP PATEL

## Will the Minister of NEW AND RENEWABLE ENERGY be pleased to state:-

(a)  the  funds  allocated  to  the  Indian  Renewable  Energy  Development  Agency  (IREDA)  to promote, develop and extend financial assistance for the renewable energy projects during each of the last three years and the current year;

(b) the extent to which the funds have been utilized by IREDA during the  said period;

(c) whether the Government proposes to evaluate the functioning of IREDA;

(d) if so, the details thereof; and

(e)  the  steps  taken  by  the  Government  to  ensure  proper  utilization  of  funds  released  to  the borrowers by IREDA?

## ANSWER

## THE MINISTER OF STATE FOR NEW & RENEWABLE ENERGY AND POWER (I/C) (SHRI R.K. SINGH)

(a)  &  (b)  The  details  of  funds  provided  to  the  Indian  Renewable  Energy  Development  Agency (IREDA) to promote, develop and extend financial assistance for the renewable energy projects during each of the last three years and the current year are given in ANNEXURE.

(c)&(d)  The  performance  of  IREDA  is  evaluated  on  annual  basis  by  the  Department  of  Public Enterprises (DPE) considering its achievements against the targets fixed in the Memorandum of Understanding (MoU) signed between IREDA and the Ministry of New and Renewable Energy (MNRE).  IREDA  has  been  rated  by  DPE  as  'Excellent'  during  2014-15,  'Very  Good'  during 2015-16 and 'Excellent' during 2016-17.

(e)  IREDA  has  an  independent  board  of  directors  which  is  authorized  to  sanction  funds  in accordance with approved RBI guidelines and financing norms of IREDA.  IREDA ensures proper utilization of funds by monitoring the progress of project implementation as follows:

- i)   Pre-sanction site visit of the project.
2. ii) Inspection of physical progress of the projects before first disbursement.
3. iii) Inspection during the subsequent disbursement made in the project implementation phase.
4. iv) Inspection before the last disbursement, which is made after commissioning of the project.

v) Utilisation of funds by borrowers is also monitored through concurrent auditors and physical progress of the projects through engineer monitors.

## ANNEXURE

## Annexure referred to in reply to part (a)& (b) of Lok Sabha Unstarred Question No. 4469 for 22/03/2018 regarding 'Allocation of Funds to IREDA'.

Statement showing details of the funds allocated to IREDA  during last three years and current year.

| Year                    | Wind Generation Based Incentive ( GBI) (In crore)   | Wind Generation Based Incentive ( GBI) (In crore)   | Solar GBI (Rooftop PV and Small Solar Power Generation Programme(RPSSGP)) (In crore)   | Solar GBI (Rooftop PV and Small Solar Power Generation Programme(RPSSGP)) (In crore)   | Allocation of Equity (In crore)   | Allocation of Equity (In crore)   | Allocation of fund from National Clean Energy Fund (NCEF) (In crore)   | Allocation of fund from National Clean Energy Fund (NCEF) (In crore)   |
|-------------------------|-----------------------------------------------------|-----------------------------------------------------|----------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------|-----------------------------------|-----------------------------------|------------------------------------------------------------------------|------------------------------------------------------------------------|
|                         | Allocati on                                         | Utilizati on                                        | Allocation                                                                             | Utilization                                                                            | Allocation                        | Utiliza tion                      | Allocation                                                             | Utilization                                                            |
| 2014-15                 | 566                                                 | 564.35                                              | 130.5                                                                                  | 128.23                                                                                 | 40                                | 40                                | 200                                                                    | Nil*                                                                   |
| 2015-16                 | 311.22                                              | 307.17                                              | 201.02                                                                                 | 197.71                                                                                 | Nil                               | Nil                               | Nil                                                                    | Nil*                                                                   |
| 2016-17                 | 1380.13                                             | 776.85                                              | 136.69                                                                                 | 144.29                                                                                 | Nil                               | Nil                               | Nil                                                                    | 111.76                                                                 |
| 2017-18 (as on 15/3/18) | 750                                                 | 973.35                                              | 89.66                                                                                  | 64.05                                                                                  | Nil                               | Nil                               | Nil                                                                    | 12.03                                                                  |