Eligibility

• Udyam Registration Number is mandatory for all MSME units.
• The account should not be under SMA 2 Category in last 12 months.
• In case of new borrowers, the CIBIL/ CRIF High Mark score of all promoters should be 650 and above.

Purpose

• To install Solar Rooftop / Ground Mounted grid-connected systems up to 2 MW capacity for captive use.

Loan Amount

• Minimum above Rs. 10.00 Lacs and Maximum Rs. 9.00 Crores.

Margin

• 10% margin for existing accounts rated IOB 1 to IOB 4 with 3 years of relationship & 10% margin for new accounts rated IOB 1 to IOB 4 with no net loss in last 3 years.
• For all other applicants, minimum margin shall be 20% of the Project Cost.

Rate of Interest

• For loans upto Rs. 1 crore - RLLR+1.75%
• For loans above Rs. 1 crore - As per RAM/External Rating

Collateral Security

• CGTMSE coverage is not required for this loan
• Existing borrowers with 3 years of relationship - existing collateral to continue and no fresh collateral required
• Existing borrowers with 3 years of relationship and facility covered under CGTMSE or hybrid security model - Min 25% collateral security to avail loan under Tejas
• In case of new/ existing account under consortium/ MBA - Min 25% collateral security coverage to be ensured
• Other borrower - Minimum 35% collateral coverage

Repayment Period

• Repayment for a maximum period of 120 months including holiday period up to 6 months.

Processing Fee

• Applicable Processing Charges/ Upfront fee to be Collected.

Other Conditions

• Installation of Solar Unit to be Grid connected and shall have the net metering arrangement
• Loan amount shall be directly disbursed to the EPC contractor
• Site feasibility report, electricity generation & savings calculation sheet from the solar equipment vendor shall be obtained.
• Due diligence report of the EPC contractor shall be obtained
• The Solar systems installed should adhere to the List of Manufacturers and Models of Solar PV Modules recommended under ALMM Order of Ministry of New and Renewable Energy (MNRE), Govt of India
• Comprehensive insurance with bank clause to be taken for prime as well as collateral security.