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Indian #Renewable #Energy #Development Agency:
A Non-Banking Financial Institution (NBFC) under the Ministry of New and Renewable Energy (MNRE). Itprovides term loans for renewable energy and thermal energy efficiency projects. They offer finance up to 75% of the solar project cost, conduct credit ratings, and determine interest rates based on risk assessment. IREDA also sources funds from international agencies and banks.

This list also includes Asian Development Bank, which is actively involved in financing solar projects in India. ADB is a primary loan provider for solar power projects. They offer financing support under the India Solar Generation Guarantee Facility (ISGGF) and provide direct financing and guarantees for projects over 25 MW.

REC or the Rural Electrification Corporation: Focuses on promoting solar energy projects; REC provides financial assistance for power generation projects. They propose a debt-to-equity ratio of 70:30 for private-sector borrowers and follow the lead banks' ratio for other cases.
NBFCs or Non-banking financial Companies, and some other international financers also provide financial support for solar projects in India.
Now there have been some Recent Government Initiativesto encourage entrepreneurs to install RE energy projects. For instance
In the Fund Allocation in the Union Budget, the Ministry for New and Renewable Energy allocatedRs. 5,753 crores and Rs. 300 crores for the 'Green Energy Corridor' scheme.
An additional capital infusion of Rs. 1,000 crores were provided to the (Fund Allocation from SECI)Solar Energy Corporation of India (SECI) and Rs. 1,500 crores to Indian Renewable Energy Development Agency under the Union Budget.
The (Measures to promote Domestic Manufacturing) Customs duty on solar inverters increased from 5% to 20%, and solar lanterns increased from 5% to 15% to promote domestic production.
SJVN Limited, a PSU under the Ministry of Power, entered an MoU with Indian Renewable Energy Development Agency Ltd. (IREDA) to provide services for green energy projects.
A production-linked incentive (PLI) scheme worth Rs. 4,500 crores (US$ 610.23 million) were announced for high-efficiency solar PV module manufacturing.

•An inter-ministerial committee was established under NITI Aayog to focus on energy modelling through the India Energy Modelling Forum (IEMF).
• The government aims to add 30 GW of renewable energy capacity along its western border, specifically in Gujarat and Rajasthan.
• The thermal power plant in Rajghat, Delhi, will be shut down and developed into a 5,000 KW solar park.
• The Government of India plans to implement a US$ 238 million National Mission on advanced ultra-supercritical technologies for cleaner coal utilization.
• Custom and excise duty benefits were provided to the solar rooftop sector by the Ministry of New and Renewable Energy (MNRE), reducing the setup cost and promoting growth.
• Indian Railways is implementing energy-efficient measures and maximizing the use of clean fuel to reduce emission levels by 33% by 2030.

Now another important factorthat needs to be discussed here is the Evaluation Mechanism by Lenders and Financing Institutesfor Funding such projects.
So Both equity and debt finance investors assess the project's legal, permitting, consent, and technical due diligence areas.
The equity stage due diligence is based on preliminary technical information, while project finance due diligence occurs at a later stage.
Whether it is a solar, hydrogen, wind or any other type of technology, due diligence is essential for the legal, technical and financial auditing of renewable energy projects. It allows the developers, owners, investors, financial institutions, etc., who are involved in a transaction to assess the risk involved in each investment.

Let’s understand the Technical Due Diligence Assessment Areas. So the institute will financial institute will assess
• Sizing of the PV plant, layout, PV modules, mounting or trackers, and inverters.
• Electrical design layout, sizing, cable losses, cable placement, connectors, earthing, and protection systems.
• Technology review of major components, including suitability, integration, track record, quality, compliance, warranties, and design life.
• Energy yield assessments, considering assumptions, solar irradiation data, shade, degradation, uncertainty analysis, and performance ratio.
• Contract assessments, identifying risks, construction timelines, warranty and guarantee positions, and financial model assumptions.
As a result, there are certain Efforts and Requirements that must be met by the Developer, such as


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