Organisation : Tamil Nadu Industrial Investment Corporation Ltd
Facility : Wind Power Project Scheme
Wind Power Project Scheme : https://www.tiic.org/
Home Page : https://www.tiic.org/
Wind Power Project Scheme
** India has been rated as one of the most promising countries for wind power development, with an estimated potential of 48500 MW.
Related : TIIC Doctor Plus Scheme Tamil Nadu : www.statusin.in/20300.html
** Around 11807 MW have been installed in the country as on 31st March 2010 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 is the forerunner in this sector.
** The State has an installed capacity of 5530 MW as of 31st March 2010 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 wind mill scheme for units in the manufacturing sector, service sector and for standalone projects, where upto 75% of the project cost is funded.
| Eligible Borrower |
Any new or existing unit |
| Promoter’s Contribution |
25% (minimum) |
| Debt Equity Ratio |
Overall 2.00 : 1.00 |
| Repayment Period |
Ranging from 5 to 7 years including a holiday of 6 months to 1 year. |
| Collateral Security |
As per existing norms of the Corporation, it will be decided on a case to case basis on merits. |
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Quantum of Loan: The maximum exposure considered under the scheme is given below:
| Constitution |
Individual |
Group |
| [Rs. in Crores] |
| Proprietary |
15 |
30 |
| Partnership |
15 |
30 |
| Private / Public Limited Companies |
30 |
40 |
|
| Scheme for purchase of used Windmill |
| Eligible Borrower |
Existing units |
| Promoter’s Contribution |
- 30% (Minimum) for clients of TIIC
- 40% (Minimum) for others
|
| Quantum of Assistance |
Need based. Maximum loan limit – Rs.10.00 Crores per client |
| Debt Equity Ratio |
2.00 : 1.00 (Overall) |
| Rate of Interest |
- Existing TIIC clients classified under Standard Category – 14.00% (PLR)
- Others – 14.25% (PLR + 0.25%)
|
| Repayment Period |
5 Years including holiday period of 3 months. |
| Collateral Security [In the form of land and building] |
75% on the loan amount, if age of the windmill is less than or upto 6 years. 100% on the loan amount, if age of the windmill is above 6 years. |
| Other Eligibility criteria |
The Cost of the proposed used windmill will be restricted to the least of the following:-
- Actual cost quoted by the seller.
- 50% on the original invoice price.
- The valuation made by our Panel Engineer.
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| The Wind Mill should have already been connected to the grid and all necessary infrastructure facilities should be available at the Wind Mill site. And there should be no evacuation problems. |
| Age of the machine should not be more than 10 years. |
| The purchaser of the second – hand wind mill shall enter into Power Purchase Agreement (PPA) with TNEB and the necessary approval obtained for the change of ownership before release of last 10% of the loan amount. |
| If the wind mill had been purchased through a loan from another FI or Banks the seller should produce NOC from the lender for the release of documents pertaining to the wind mill directly to TIIC |
| The land should be registered in the name of the purchaser and has to be mortgaged in favour of TIIC soon after purchase. |
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