SURYA SHAKTI – SOLAR FINANCE - Business
SURYA SHAKTI – SOLAR FINANCE
Purpose
To provide finance to SME & Business Enterprises for installation of Solar rooftop / ground mounted grid-connected systems upto 1 MW capacity for captive use.
Features
- Target Group : Existing and Prospective SME & Business enterprises, having requirement for installation of Solar rooftop / ground mounted grid-connected systems upto 1 MW capacity.
- Type of facility : Term Loan
- Quantum of Loan : Maximum: Rs.4 Crores
- Borrower’s Margin / Contribution : 20% (minimum)
- Pricing : Attractive Interest rates based on rating of the Borrower.
EBLR linked (for MSMEs) & 6 months MCLR linked (for Non-MSMEs) - Repayment Period : Upto 10 years (maximum incl. initial moratorium of 6 months)
- Upfront fees / charges : 1% of Term loan amount + applicable GST
- Processing of loans : Centralised Processing for quick Turn Around Time (TAT)
Eligibility
- Existing and Prospective SME & Business enterprises having requirement for installing solar rooftop / ground mounted projects for captive use.
- CIBIL Score of all Promoters not less than 650.
- Solar systems to be Grid connected.
- Net Metering Arrangement.
- MSME unit should have Udyam Registration Number (URN)
- Post installation of solar rooftop / ground mounted grid-connected system Electricity Cost Savings shall cover at least the monthly repayment obligations.
Financial benchmarks:
- Average Gross DSCR considering all Term Loans: 1.20 (minimum)
- Fixed Asset Coverage Ratio (FACR): 1.10 (minimum)
- Interest Coverage Ratio (ICR): 1.75 (minimum)
- Debt:Equity : 4:1(maximum)
- Debt / EBIDTA: 6 (maximum)
Terms & Conditions
- Collateral Security : Not mandatory, if security coverage is adequate as per Bank’s assessment.
- Guarantee : Personal Guarantee of Promoters (proprietor / partners / directors, etc.)
- Pre-payment charges : Nil
Last Updated On : Friday, 10-06-2022

Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
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Criteria
- Features
- Eligibility
- Terms and Conditions

Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above