OREANDA-NEWS. April 24, 2015. In order to provide low cost finance to renewable energy projects, Government announced its commitment in the budget for 2013-14 to provide funds from the National Clean Energy Fund (NCEF) to Indian Renewable Energy Development Agency (IREDA) to on-lend to viable renewable energy projects. Rs. 100 crore and Rs. 200 crore were released to IREDA for this purpose from NCEF in the year 2013-14 and 2014-15 respectively. This was stated by Sh. Piyush Goyal, Minister of State (IC) for Power, Coal & New and Renewable Energy in a written reply to a question in the Lok Sabha today.

The Minister further stated that as per the Scheme not more than 30% of the outstanding loan amount shall be refinanced to Banks/ Financial Institutions, wherein the end-users will get said amount at a maximum rate of interest of 5% p.a. Renewable power projects of about 200 MW are expected to be supported under the scheme, the Minister added.