The objective of the scheme is as under:
The scheme shall provide financial assistance upto 100% cost of the energy efficiency project or uptoRs. 25 Lacs whichever is less in each of the sector mentioned above. However, PEDA has its sole discretion to provide financial assistance of more than Rs. 25 lakhs depending on creditworthiness and proposal soundness of the Agency.
The implementation period will be six months extendable upto nine months with the due approval from PEDA
The tenure of financial assistance will be 36 to 60 months, however public agency shall have the option to prepay the amount.
The collateral will be unconditional and irrevocable bank guarantee of value equivalent to financial assistance.
The repayment will be fixed annuity installment through post-dated cheques equivalent to 100% value of financial assistance or through Escrow mechanism.
The penalty for delay of repayment will be charged on unpaid amount @18% per annum compounded monthly for a period of delay.