IREDA slashed lending rates to give competitive RE financing

Interest Rate matrix for Sectors w.e.f. 01-11-2015 Onwards 

S. No. BORROWER / SECTOR

Grade I

Grade II Grade III Grade IV

1

Schedule A,’AAA’ Rated PSUs (Net)

9.90 %

2

State Sector Borrowers (Net)

9.90%

10.20% 10.50% 10.75%

3

LoC for Refinance and other
Borrowing Cost* + 1.00% to 2.00% (Spread)
4
Roof top Solar
10.05% 10.30% 10.60% 10.90%

5

Wind Energy, and Grid Connected Solar PV 10.20 % 10.95 % 11.10% 11.40 %

6

Co-generation, Hydro and CSP

10.50%

11.20% 11.45% 11.70%

7

Energy Efficiency , Energy Conservation & Solar Thermal /Solar PV Off-Grid, Biomass Power and other sector

10.60%

11.25% 11.65% 11.90%

8

Manufacturing (All sectors) Existing units – 11.70% Green Field – 11.90%

Note :

  1. Reduction in interest rates over and above the applicable interest rates by 25 bps, 20 bps and 15 bps for Grade –I, Grade- II and Grade-III of external grading’s respectively. (Irrespective of IREDA’s internal grading) Except for serial no.1 & 2 of above.
  2. Prompt payment rebate of 15 bps on the applicable interest rate, if the installments of interest and Principal are paid in full, on due dates Except for serial no.1 & 2 of above.
  3. Reduction in  Interest rate over and  above the applicable interest rates by 25 bps for Repowering of wind energy projects.
  4. Additional Interest @ 0.50% over and above the applicable rate of interest shall be charged till the date of commissioning of the project other than Wind and Solarsector. No additional interest during construction for (i) “Schedule-A, ‘AAA’ rated PSUs (ii) State Sector Borrowers who are engaged in power sector and have successfully implemented not less than 200 MW of hydroelectric projects and implementing Hydro sector projects and (iii) “State Sector Borrowers” which are engaged in power sector and implementing Wind Energy projects/ Solar Energy Projects.
  5. In case of loans sanctioned for manufacturing facilities, no additional interest during the construction period shall be charged.

 

Share

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *


*