Lok Sabha Question No. 1799 (UNSTARRED), answered on 2015-07-30
Subject: Loans by IREDA
Ministry: NEW AND RENEWABLE ENERGY
Asked by: SANTOSH AHLAWAT, SHOBHA KARANDLAJE, VIJAY KUMAR S.R.

## GOVERNMENT OF INDIA MINISTRY OF NEW AND RENEWABLE ENERGY

## LOK SABHA

## UNSTARRED  QUESTION NO. 1799

TO BE ANSWERED ON 30.07.2015

## LOANS BY IREDA

1799.   SHRIMATI SANTOSH AHLAWAT: KUMARI SHOBHA KARANDLAJE: SHRI S.R. VIJAYAKUMAR:

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

- (a) whether the Government has launched Indian Renewable Energy Development Agency (IREDA) loan scheme for Rooftop Solar PV Power Projects and  if so, the details/salient features of the scheme;
- (b) the steps being taken by the Government for private sector participation in RE sector and the target fixed for rooftop solar energy production in the country by 2022;
- (c) whether the Government is trying to get 2 billion dollars from the World Bank and the Asian Development Bank (ADB) towards rooftop projects, if so, the details thereof;
- (d) whether  the  Government  proposes  to  install  projects  worth  1500  MW  capacity  on  the rooftops of Government buildings and if so, the details thereof;
- (e) the details of loans released by IREDA to each State in the last three years. State-wise and the criteria therefor; and
- (f) whether any State has defaulted to repay the loan and if so, the action taken by the Government thereon?

## ANSWER

THE MINISTER OF STATE FOR POWER, COAL & NEW AND RENEWABLE ENERGY (INDEPENDENT CHARGE) (SHRI PIYUSH GOYAL)

- (a) : IREDA has launched a  loan  scheme  for  Rooftop  Solar  PV  Power  Projects  on  7 th July 2015. Interest rates for loans under the scheme are ranging from 9.90% to 10.75% per annum. The minimum capacity of each system eligible for loan is 20 kWp and proposal for minimum 1000 kWp aggregate capacity  will be considered. The repayment period for the loan shall be upto 9 years, with the moratorium period of 6 to 12 months.
- (b): Government has set a target for installation of 175 GW renewable power including 100 GW solar power, 60 GW wind power, 10 GW biomass power and 5 GW small hydro power. Out of 100 GW solar power, 40 GW has been set for rooftop solar systems.

Major steps taken by the Government for private sector participation in RE sector include:

-  Financial support in the form of generation based incentives and viability gap funding for renewable power projects.
-  Fiscal incentives such as accelerated depreciation, concessional custom duty, excise duty exemptions,  income tax holiday for 10 years
-  Concessional loans from Indian Renewable Energy Development Agency
-  Loans under Priority Sector Lending upto  Rs. 15 crore for renewable energy projects.
-  Bank loans as a part of home loan/ home improvement loan for rooftop solar systems
-  Subsidy for grid connected rooftop solar systems, solar pumping systems and other off-grid solar applications.

(c): Ministry is seeking International fundings of US$500 million from the World Bank and US$500 million from Asian Development Bank for rooftop solar projects.

(d): Government  is  encouraging  installation  of  grid  connected  solar  rooftop  projects  in government  buildings.  On  the  basis  of  information  received  from  844  nos.  Government buildings,  a  potential  of  1450  MWp  capacity  of  rooftop  solar  systems  has  been  estimated  in various Central Government buildings.

(e)&(f):

No Madam. IREDA has not provided loan to any State Government. ******