The TSREDCO GM stated that discussion with StreeNidhi officials about the scheme was going on and once all the modalities were finalized, they would help in setting up the grid solar roofs.
Date of publication – 20:47, Friday – 23 December 22
Hyderabad: As part of the State government’s drive towards clean and green energy, StreeNidhi credit cooperative, Federation Limited, has made plans to provide loans for installation of rooftop grid solar meters to complement the flow of credit in the banking sector promoted by the State government and Mandal Samkahyas. panel units in the houses of 10,000 Self Help Group (SHG) members across the State. StreeNidhi would implement the initiative in collaboration with Telangana State Renewable Energy Development Corporation (TSREDCO).
According to StreeNidhi DGM BVS Reddy, his organization has identified 300 mandals across the State to implement the program and around 35 units would be installed in each mandal. He said that they have already successfully installed 14 rooftop grid metering solar panel units in Ankole Camp village of Nasrullabad mandal and 22 in Thimmapur village of Birkur mandal in Kamareddy district. “Now we want to install solar panels in at least 10,000 houses of SHG members across the State. This will not only save them money, but will also help them make the environment cleaner and healthier,” he said.
TSREDCO CEO GSV Prasad stated that discussion on the scheme was going on with the officials of StreeNidhi and once all the modalities were finalized, they would help in setting up the grid solar roofs.
BVS Reddy stated that the process of selection of beneficiaries has already started and the program will be implemented soon. Giving details of the scheme, Reddy stated that eligible SHG members would be funded to set up 2 KW and 3 KW grid solar rooftops under the Akshaya scheme. Beneficiaries should have an RCC building and the floor area should be at least 160 square meters to more than 200 square meters and they should consume at least 200-300 units of electricity per month, only then they would be eligible for the loan, he said.
StreeNidhi would provide 50 percent of the loan amount, the government would get a subsidy of up to 40 percent per unit and the remaining 10 percent has to be paid by the beneficiary, it said. This loan has been given the flexibility to repay in five years at an annual interest rate of 11 percent, he added.
The total cost of the 2 KW unit is Rs 1,42,200, and the sanctioned loan amount is Rs 1 lakh. Similarly, the total cost of 3 KW units is Rs 1,92,360 and the sanctioned loan amount is Rs 1.25 lakh.
Total number of beneficiaries: 10,000 Total cost of 2 KW solar units: Rs 1,42,200 Total cost of 3 KW solar units: Rs 1,92,360 Loan amount for 2 KW units: Rs 1 lakh Loan for 3 KW units amount: Rs 1.25 lakh Subsidy amount for 2 KW units: Rs 39,200. Amount of subsidy for 3 KW units: Rs.57,360.