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

  Click here for Rate of Interest

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.

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.

 

Click here for details on scheme for purchase of new windmill

Page modified on 12.04.2013

 

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