SURYA SHAKTI – SOLAR FINANCE

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Surya Shakti – Solar Finance
Surya Shakti – Solar Finance
Surya Shakti – Solar Finance
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Objective/ Purpose

For installation of Solar rooftop / ground mounted grid-connected systems for captive use (Captive Variant)/ Other than Captive use i.e., Sale of Power under Power Purchase Arrangement (PPA) under Group Captive, Open Access (Third Party), RESCO.

Surya Shakti Solar Finance
Parameter Captive Variant Other than Captive Projects
Target Group Existing and Prospective SME & Business enterprises, having requirement for installation of Solar rooftop / ground mounted grid connected systems. All the Existing and Prospective SME & Business enterprises who are setting up Solar power projects (Rooftop/Ground mounted) and having a long term PPA for sale of Power. Solar Projects under Group Captive with a long-term PPA are also eligible under the product.
Facilities Available Term Loan Term Loan
Quantum of Loan Maximum: Rs.10 Crores Maximum: Rs.50 Crores
Pricing Attractive Interest rates based on rating of the Borrower/ External Rating or as per Scheme Specific Rating (if applicable) or as per extant guidelines of the Bank.
EBR linked (for MSMEs) & 6 months MCLR linked (for Non-MSMEs)
Borrower's Margin / Contribution 20% (minimum) Deviation not permitted 25% (minimum) Deviation.
Repayment Period 10 years (maximum incl. initial moratorium) 15 years (maximum incl. initial moratorium)
Processing Fee/ Upfront Fee 0.75% of Term loan amount + applicable GST
Other Charges NA
Eligibility of EPC Contractor EPC should be registered with MNRE/ DISCOM. NA

 


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

Online Portal
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Last Updated On : Thursday, 21-08-2025

Interest Rates

7.50%* p.a. onwards

w.e.f. 15.06.2025

*T&C Apply.

 

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