Loan Products
-
Long Term Loan
- Medium Term Loan
- Short Term Loan
- Debt Refinancing
- Equity Financing
- Financing Of Equipment Manufacturing (Em) For Power Sector
- Financing of Coal Mines
- Policy For Funding Against Regulatory Assets (Excluding return On Equity Component) Of Power Utilities
- Revolving Bill Payment Facility(RBPF)
- Loan Policy Circular
- Consumer Awareness
Renewables - Greenfield Project
We finance all type of Power Generation Projects based on Renewable Energy (RE) Sources i.e Solar, Wind, Biomass, Small Hydro etc. We sanction loans as a sole lender or as a co-lender in consortium with or without the status of lead financer.
Types of Schemes Financed
|
Technology |
Minimum Size (MW) |
Sole Funding Limits** |
Consortium Funding Limits** |
|
|
IR-1 to IR-4 |
IR-5 |
|||
|
Solar Project |
5 |
|
Maximum debt Rs. 500 Cr. |
Restricted to 50% of project cost without any restriction on overall cost and size of the project |
|
Wind Project |
||||
|
Small Hydro Project |
|
Maximum debt Rs. 100 Cr. |
||
|
Biomass Project |
|
Maximum debt Rs. 50 Cr. |
||
**Funding limits are only for Private sector borrowers.
For interest rates, click here.
Loan Tenor
Moratorium Period:
The moratorium period for principal repayment may be up to twelve (12) months after the Commercial Operation Date (COD).
Repayment Period:
The repayment period after moratorium shall therefore be as follows:
|
Repayment Period Project |
Repayment Period |
|
Solar |
|
|
Wind |
|
|
Municipal solid waste/residual derived fuel/Biomass |
|
|
Small Hydro Projects |
May be extended based on merit but not exceeding 25 years subject to availability of PPA. |
|
Other Technologies |
|
|
REC may take economic life from any of the following:: a. As provided under CERC/SERC guidelines or b. As suggested by Lenders Independent Engineer (LIE)/PMA c. As decided by REC based on the location of the project, technology of the project and operational & maintenance cost of the project. |
|
Major Categories of borrowers:
- State Sector Power Utilities/SEBs,
- Central Sector,
- Joint Sector and
- Private Sector Companies/Independent Power Producers (IPPs).
Fees Applicable:
A. Private Sector Borrowers
Processing Fees*-
(%age of REC loan amount)
|
|
Solar and Wind |
Other |
|
a. Under Construction projects – REC is neither lead nor sole lender |
0.35% |
0.40% |
|
b. All type of funding of commissioned projects (incl. lead/Sole lending) |
||
|
c. Short Term loan to Private sector |
||
|
Under Construction projects -REC is sole FI |
0.50% |
0.60% |
|
Under Construction projects -REC is lead FI |
0.60% |
0.75% |
| Total Minimum Fee | Rs. 25 Lakh | Rs. 50 Lakh |
Time line for payment of Fees:-
|
Tranche |
Amount |
Timeline |
|
T1 |
10% of Transaction fee with floor of Rs. 5 lakh & cap of Rs. 25 lakh |
Before start of Appraisal |
|
T2 |
10% of Transaction Fee |
Before issue of sanction letter |
|
T3 |
Remaining Fee |
Before documentation. |
B. State Sector Borrowers
As per REC's prevailing policy for state sector borrowers.
For further information, please contact:
|
Mr. Saurabh Rastogi REC World Headquarters, Plot No. I-4, Sector 29, Tele.- +91 124-4441300
Mr. Alok Singh REC World Headquarters, Renewables Department Email Id-renewables[at]recindia[dot]com |
