Get loan against generation based incentive for grid interactive solar and wind

Generation Based Incentive (GBI) was announced by the Ministry of New and Renewable Energy (MNRE) for Grid Interactive Wind and Solar Power Projects with the main aim to broaden the investor base, facilitate the entry of large Independent Power Producers and to provide level playing field to various classes of investors.

Under the scheme for wind power, a GBI @ Rs. 0.50 per unit of electricity fed into the grid is provided for a period not less than 4 years and a maximum period of 10 years with a cap of Rs. 62 lakhs per MW.

Under the Scheme for Solar Energy, GBI is provided to support small grid solar power projects connected to the distribution grid (below 33 KV) to the state utilities.

Objective:

Bridge loan against GBI Claims Payable to Renewable Energy Developers under MNRE Scheme for Generation Based Incentive (GBI) for grid interactive Wind and Solar power projects.

Eligibility:

GBI claim under GBI Scheme at IREDA, which is processed and pending for release of payment on account of non- availability of funds.

Benefits :

• Minimum loan assistance – Rs.20 Lakhs and Maximum loan assistance of Rs.50 Lakhs.

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