BOI | Bank of India

Purpose

Decentralized Ground/ Stilt Mounted Grid Connected Solar or other Renewable Energy based Power Plants; Installation of Stand-alone Solar Pumps and Solarisation of Grid Connected Pumps.

Eligibility

Farmers/ Group of Farmers/ Co-operatives/ Farmer Producer Organisations (FPO)/ Water User Associations (WUA)/ Proprietors/ Partners/ LLPs/ Companies, etc.

Quantum of finance

Component	Max Unit Cost	Bank finance
Component-A Small Solar Power Plants (Minimum 500 KW to 2 MW)	3.50 cr./ MW	70% Max Rs.2.45 cr.
Component-B Standalone Power Pumps	3.25 lakh/ Pump	30% Max Rs.0.97 lakh
Component-C Solarisation of Grid Pumps	4.50 lakh/ Pump	30% Max Rs.1.35 lakh

Security

Legal/ Equitable Mortgage or as per State Laws of agricultural land owned by the farmer.

Margin

Component	Bank finance
Component-A Small Solar Power Plants (Minimum 500 KW to 2 MW)	30%.
Component-B Standalone Power Pumps	a) For loans up to Rs.160000/- : NIL b) For loans above Rs.160000/-: Minimum 10% by way of promoter contribution.
Component-C Solarisation of Grid Pumps

Repayment

Entire loan to be repaid within maximum 10 years including moratorium period.

Rate of interest

Interest Rates as decided by the Bank from time to time.

Subsidy

The subsidy will be shared by Central Government (30%) and State Government (30%). The beneficiaries will be eligible for 60% subsidy under the PM-KUSUM scheme (for Component B & C) of Central Govt. Subject to the terms & conditions applicable to the scheme.

*For further details please contact to nearest branch

Star Krishi Urja Scheme (SKUS)