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India
has been rated as one of the most promising
countries for wind power development, with
an estimated potential of 45000 MW. Around
1870 MW have been installed in the country
so far with the active participation of
private sector investors. An environment
for commercial exploitation has been evolved
by various commercial initiatives of the
Government.
Tamilnadu
with more than 3500 wind turbines commissioned,
is the forerunner in this sector. The State
has an installed capacity of 990 MW and
has tremendous potential for growth in this
sector.
TIIC
has acquired expertise in funding this sector
and can guide its clients in the right direction,
from selection of Wind Turbines upto choosing
the appropriate type of financing. TIIC
is operating two schemes viz., GENERAL TERM
LOAN SCHEME where upto 75% of the project
cost is funded and EQUIPMENT FINANCE SCHEME
where upto 85% of the cost of equipment
and allied expenses are funded for wind
power projects to suit the needs of different
clients.
Textile units which qualify under Technology
Upgradation Fund (TUF) Scheme can also avail
assistance for Wind Turbines on stand alone
basis under TUF Scheme.
| Scheme
I |
GENERAL
TERM LOAN |
| Eligible borrower |
Any new or existing
unit |
| Promoters Contribution
|
New Clients
35 % (Minimum)
Existing Units 25 % (Minimum)
|
| Debt Equity
Ratio |
Overall 2 :
1 |
| Repayment Period
|
Ranging from
5 to 7 years including a holiday of
6 months to 1 year.
|
| Collateral Security |
i)As per existing
norms of the Corporation, it will
be decided on a case to case basis
on merits.
ii)Norms will be liberal in case of
existing assisted units of TIIC with
good track record and for units for
captive consumption of power.
|
|
Scheme
I I |
EQUIPMENT
FINANCE SCHEME |
| Eligible
borrower |
The unit should
:
1. have been in operation for atleast
3 years
2.have earned profits and or declared
dividends during the proceeding two
financial years.
3. not be in default to institution
/ banks in the payment of their dues.
4. have positive networth.
|
| Promoters
Contribution |
15% of the cost
of equipment including (minimum) its
accessories, electricals, erection
charges etc, but excluding the cost
of land. |
| Debt
Equity Ratio |
Overall 2 :
1 |
| Repayment
Period |
Maximum 5 years
including a holiday of 6 months to
1 year . |
| Collateral
Security |
i) As applicable
for Term Loan
ii)Will be liberal in case of existing
assisted units of TIIC with good track
record and for units for captive consumption
of power. |
| LOAN
LIMIT |
| Constitution |
Under EFS |
Under General Scheme |
| Partnership / Proprietary
|
Rs.120 lacs |
Rs.120 lacs |
| Limited Companies |
Rs.300 lacs |
Rs.800 lacs |
| Scheme
III |
UNDER
TUF SCHEME |
| Eligible borrower |
Spinning mills
- 12,000 spindles & above
Other textile units which qualify
under TUF Scheme
(Wind power should be for captive
consumption) |
| Promoters Contribution
|
Minimum 20%
|
| Debt Equity
Ratio |
Overall 2.00
: 1.00 |
| Interest subsidy
under TUF |
5% p.a. for
prompt repayment |
Note
:
The selection of machinery (Wind
Turbine) supplier / manufacturer,
location etc will be decided on
the basis of guidelines issued by
MNES, C-WET, TEDA, TNEB etc. from
time to time.
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