Search
Login

Rooftop PV Solar Power Projects

By 2022, India aims to achieve 40 GW of Grid Connected Rooftop Solar Photovoltaic Power Projects out of the total 175 GW target of renewable energy capacity. To promote the vision of the Government PNB has been sanctioned a line of credit of $ 500 Million from Asian Development Bank for financing Rooftop Photovoltaic Solar Power Projects. A customized scheme has been formulated by the bank. The benchmark parameters and terms and conditions under the scheme are given below:


PNB’s Scheme for Financing ROOFTOP PV SOLAR POWER PROJECTS
Parameter Details
Target Group Sole proprietorship firms, partnership firms including Limited Liability Partnership (LLP), Limited Companies, Private Limited companies, Trusts, Associations, Special Purpose Vehicle(SPV), Non Banking Finance Companies( NBFCs) and Registered Societies.
Branches identified for handling this business All Large Corporate Branches/Mid Corporate Branches/Exceptionally Large Branches as well as identified branches by various circles
Margin Minimum 30% with a suitable upfront contribution of the required margin.
Type of Facility
  • Term Loan: Need Based
  • Working Capital under Receivables: Need Based
  • Non Fund Based (Letter of Credit/Letter of Guarantee): Need Based
Pricing Minimum of One Year MCLR upto a maximum spread of 30 to 50 bps based on risk rating of the borrowing firm/company.
Fixed Asset Coverage Ratio(FACR) in a year Minimum 1.25
Loan Repayment Period Door to Door tenor of maximum 15 years which comprises construction / installation, moratorium and repayment period.
Moratorium Moratorium: 1 year after 1st disbursement or 4 months from COD, whichever is earlier
Primary Security Exclusive first charge on fixed assets (present as well as future ) relating to the project/ program
Collateral Security
  • Loan for Rooftop Solar Project to MSME up to Rs 10 lakh shall be without collateral security as per Govt. Guidelines.
  • For others: Notwithstanding the security stipulated , the sanctioning authority may where it is deemed necessary, on a case to case basis may stipulate such collateral security as required.
Guarantee Personal guarantee of proprietor/ partner/ director to be obtained. In case of SPV corporate guarantee of Promoter Company shall be explored.
Debt Service Reserve Account (DSRA) DSRA equivalent to minimum of 3 months principal and interest to be maintained after the date of commercial operations
Statutory Clearances and PPA The required project agreements (including PPA)/ clearances/ approvals should be in place, before disbursement of 1st tranche for each individual loans under the overall sanctioned credit facility.
Others Compliance with ADB Guidelines on procurement and Environment,Health,Safety,Social,Gender, & Child Labour
Listen
  • Rewarded

    Rewarded

    Earn reward points on transactions made at POS and e-commerce outlets

  • Book your locker

    Book your locker

    Deposit lockers are available to keep your valuables in a stringent and safe environment

  • Financial Advice?

    Financial Advice?

    Connect to our financial advisors to seek assistance and meet set financial goals.

  • ATM & Branch Network

    ATM & Branch Network

    Find PNB Branches and ATMs in proximity to your location.