“First Loss eC | CSOT eT" Renewable Energy ProjectsThe Scheme IREDA “Innovative debt fund” & “First Loss Guarantee” scheme for Off Grid Renewable Energy Projects with partial risk coverage to Banks/ Fis. Background ‘An innovative concessional fund USD 100 mn is being set up with the debt contribution of USD 70 mn through IREDA/ Other Fis/ Multilateral / Bilateral Agencies and other investors and grant of USD 30 mn through Green Climate Fund (GCF). IREDA/ Fund Manager to provide a combination of concessional debt fund and also partial risk cover towards “First Loss Guarantee” to Banks/ Fis against payment default by end consumers i.e. Off Grid Companies. ram [ IREDA/Other Fis/ | ra ee Multi/Bi-lateral_ >» | Off-grid Institutions Energy Innovative Companies Debt Fund —— Other Investors. ————> > s “eal poo First Loss Lends ree Capital eg (pues nr)Eligibility The fund will be accessible to all Fls / Banks in India for all off grid renewable energy systems that meet the objective of enabling energy access, including solar products, solar home systems, off grid solar micro grids and solar based agricultural equipment in rural areas. In urban areas, residential ‘commercial and industrial rooftop solar systems are eligible to avail the facility. Broad Terms & Conditions (Tentative) 1. Forconcessional Debt Loan Amount Promoters Contribution Interest Rate Loan Tenure up to 70% of the total project cost | Minimum 30% of the total project cost. 10.00 % - 11 % 5 ~7 years |_Implementation Period [ Moratorium 6 -12 months 3 months 2. Risk Coverage / Fees upto 25% of loan o/s @ 05% pa. of the risk cover of upto 10% of loan o/s. and 1% in case of risk cover upto 20% of loan o/s. and 1.5% pa. in case of 25% risk cover. All other "Terms and Conditions” as per IREDA's Financing Norms.Ss S/ISC SO/ Indian Renewable Energy Development Agency Limited (A Govt. of India Enterprise) ‘A Mini Ratna PSU under Ministry of New and Renewable Energy Core 4 A, 2nd Floor, India Habitat Centre, Lodhi Road, New Delhi - 110003 wwewireda.govin