Energy is a basic requirement for economic development. Every sector of the national economy – agriculture, industry, transport, commercial and domestic – needs inputs of energy. The economic development plans implemented since independence have necessarily required increasing amounts of energy. As a result, consumption of energy in all forms has been steadily rising all over the country.
The growing consumption of energy has also resulted in the country becoming increasingly dependent on fossil fuels such as coal and oil and gas. Rising prices of oil and gas and potential shortages in future lead to concerns about the security of energy supply, which is needed to sustain our economic growth. Increased use of fossil fuels also causes environmental problems both on local and global scales.
In this background, there is urgent need for the country to develop a sustainable path of energy development. Promotion of energy conservation and increased use of renewable energy sources are the twin planks of sustainable energy.
The Ministry of Non-Conventional Energy Sources has been implementing comprehensive programmes for the development and utilisation of various renewable energy sources in the country. As a result of efforts made during the past quarter century, a number of technologies and devices have been developed and have become commercially available.
As against the estimated 80000 MW renewable energy based grid connected power generation potential in the country, so far only about 6000 MW installed capacity has been realized, giving vast opportunity for exploitation of renewable energy sources for power generation. The renewable energy based power generation capacity presently constitutes 5% of the total installed capacity in the country for power generation from all sources. The country is aiming to achieve upto 10% of additional installed capacity to be set up till 2012 to come from renewable energy sources.
Indian Renewable Energy Development Agency Ltd
Indian Renewable Energy Development Agency Limited (IREDA) was established on 11th March, 1987 as a Public limited Government Company under the Companies Act, 1956 and it promotes, develops and extends financial assistance for Renewable Energy and Energy Efficiency/Conservation Projects.
IREDA has been notified as a “Public Financial Institution” under section 4 ‘A’ of the Companies Act, 1956 and registered as Non-Banking Financial Company (NFBC) with Reserve Bank of India (RBI).
IREDA’s mission is “Be a pioneering, participant friendly and competitive institution for financing and promoting self-sustaining investment in energy generation from Renewable Sources, Energy Efficiency and Environmental Technologies for sustainable development.”
IREDA’s Motto is “Energy for Ever.”
The main objectives of IREDA are :
To give financial support to specific projects and schemes for generating electricity and / or energy through new and renewable sources and conserving energy through energy efficiency.
To maintain its position as a leading organization to provide efficient and effective financing in renewable energy and energy efficiency / conservation projects.
To increase IREDA`s share in the renewable energy sector by way of innovative financing.
Improvement in the efficiency of services provided to customers through continual improvement of systems, processes and resources.
To strive to be competitive institution through customer satisfaction.
IREDA is committed to maintain its position as a leading organization to provide innovative financing in Renewable Energy & Energy Efficiency/Conservation and Environmental Technologies through efficient system & processes for providing total satisfaction and transparency to its customers.
IREDA shall strive for continual improvement in the quality of services to its customers through effective quality management system.
i. Drive towards total customer satisfaction.
ii. Continual upgradation of capability and improvement in the professional skills of employees.
iii. Improvement in efficiency of services provided to customers.
iv. Continual improvement of systems, process and services.
All concerned shall implement the Quality Policy & Quality Objectives with full devotion & dedication to achieve IREDA’s Mission. More info at https://solarserdar.wordpress.com/
IREDA has many projects in RENEWABLE ENERGY
IREDA has launched the Renewable Energy-Energy Efficiency Umbrella Financing Scheme for those organisations who have good existing network to serve individual/retail customers who do not fulfil IREDA’s legal eligibility criteria and are scattered over large rural/semi-urban areas.
1. To supplement IREDA’s current lending operations by spreading the customers/user base through the development of an appropriate Micro financing Network.
2. To facilitate the Micro Lending capabilities of IREDA.
State Financial Corporations (SFCs), Industrial Development Corporations (IDCs), Technical Consultancy Organisations (TCOs), Non Banking Financing Companies (NBFCs), State Nodal Agencies (SNAs), Business Development Associates (BDAs) , Scheduled banks and Non-Governmental Organisations (NGOs) which are otherwise legally eligible to borrow from IREDA and fulfil the other eligibility norms detailed in Financing guidelines.
LENDING TERMS AND CONDITIONS
Line of credit : Minimum Rs. 25.00 lakhs and maximum Rs. 1 crore.
PROCEDURE FOR APPLICATION
The eligible applicant will submit an application in the prescribed format of IREDA along with business plan and other enclosures. Applications for a line of credit will be appraised based upon the criteria prescribed by IREDA. IREDA will review application and sanction the line of credit based on the qualification criteria: or reject the application, if not found suitable.
1. Front end Fee, Inspection charges, Legal charges (other than incurred for recovery), expenditure on Nominee Directors are not applicable to this scheme.
2. Please refer to IREDA’s Financing Guidelines for further details.
1. IREDA will disburse 50% of the line of credit as Mobilisation advance after signing of Loan Agreement and creation of security.
2. Balance 50% will be disbursed after evidence of proper utilisation of Mobilisation Advance already released.
ON-LENDING TERMS AND CONDITIONS
To be decided by the Borrower
If the borrower conducts no business (submits no evidence of utilisation of mobilisation advance to IREDA) within a period of 12 months from the date of disbursement of mobilisation advance, then the line of credit sanctioned would automatically be cancelled. In that event, Mobilisation advance drawn from IREDA along with interest shall be refunded within 30 days of expiry of said one year.More info at http://solarserdar.blogspot.com/
Indian Renewable Energy Development Agency Limited
(A Government of India Enterprise)
3rd Floor, August Kranti Bhawan,
Bhikaiji Cama Place, New Delhi – 110 066.
Tel: +91 11 26717400 – 26717413
Fax: +91 11 26717416
India Habitat Centre, East Court
Core-4A, 1st Floor, Lodhi Road
New Delhi – 11 00 03
Chairman and Managing Director
Tel. (O:) +91 11 26717414 / 26717415
Fax : +91 11 26717416
S. P. Reddi
Tel. (O:) +91 11 26717417
Fax : +91 11 26717418
K. S. Popli
Tel. (O:) +91 11 26717419
Fax : +91 11 26717420
Abdul Aziz Khatana
Chief General Manager ( Technical Services)
Tel. (O:) +91 11 26717421
B. Venkateswara Rao
General Manager (Technical Services)
Tel. (O:) +91 11 26717422
B. M. Chauhan
General Manager (Technical Services)
Tel. (O:) +91 11 26717424
S. K. Bhargava
General Manager (F & A) & Company Secretary
Tel. (O:) +91 11 26717425
Deputy General Manager (TS)
Tel. (O:) +91 11 26717428
S. M. Bhajantri
Assistant General Manager (HR)
Tel. (O:) +91 11 26717435
CROATIAN RENEWABLE ENERGY CENTER SOLAR SERDAR (CRECSS)
Head of business association