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    Home / News / Business News / Revolutionizing India with renewable energy loans
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    Revolutionizing India with renewable energy loans
    Refer to this guide

    Revolutionizing India with renewable energy loans

    By Sanjana Negi
    Jan 08, 2025
    01:46 pm

    What's the story

    India is on a roll, a green roll, if you may!

    The launch of renewable energy loans marks a key milestone in this journey, providing accessible financial options for individuals and businesses looking to invest in renewable energy sources.

    These loans aim to alleviate the upfront cost hurdle, paving the way for a broader audience to participate in building a greener tomorrow.

    Solar loans

    Solar power financing made easy

    Solar energy, the poster child of renewables, is experiencing a surge in popularity across India.

    Banks are now offering solar loans ranging from ₹50,000 to ₹10 million, addressing diverse needs from installing rooftop solar panels at homes to establishing large-scale solar farms.

    With competitive interest rates and flexible repayment terms, these loans are further incentivizing individuals to switch to solar power.

    Wind Loans

    Wind energy: Harnessing the breeze

    Wind energy projects demand substantial financial commitment, often proving prohibitive for individuals and small businesses.

    To address this, Indian banks and non-banking financial companies provide wind energy loans.

    These loans finance up to 80% of project costs with repayment terms extending to 15 years, significantly reducing barriers to entry and making such investments more manageable.

    Biomass financing

    Biomass projects: Turning waste into energy

    Biomass projects transform agricultural waste and other organic materials into electricity or gas, providing a sustainable solution for waste management and energy production.

    Acknowledging its potential, Indian banks offer biomass project loans that encompass equipment purchase, installation costs, and working capital needs.

    With attractive interest rates and tenures reaching up to 12 years, these loans foster the expansion of biomass energy production across the nation.

    Hydro loans

    Light up lives with small hydro power loans

    Small hydro power projects are becoming increasingly popular in rural India as they harness the power of flowing water to generate electricity without causing environmental harm.

    To encourage such initiatives, renewable energy loans specifically designed for small hydro power projects are offered.

    They cover expenses like feasibility studies, construction costs, and machinery procurement with loan amounts ranging from a few lakhs to several crores based on the project size.

    Subsidies support

    Green future through government subsidies

    The government of India provides strong financial incentives in the form of subsidies for renewable energy projects to support its commitment to achieving national green targets.

    These subsidies, when coupled with renewable energy loans from financial institutions, can cover up to 90% of the total project costs.

    Applicants enjoy either low-interest rates or direct capital subsidies, dramatically reducing the overall investment needed.

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