Framework for Energy Efficient Economic Development (FEEED):
To build the market for energy efficiency it is imperative to ease the financing of energy efficiency projects through different fiscal instruments. FEEED is designed for development of fiscal instruments to promote energy efficiency. The objective is to provide the comfort to concerned stakeholders through implementation of Energy Efficiency schemes such as Partial Risk Sharing Facility (PRSF) to provide partial credit guarantees to cover a share of the default risk that participating financial institutions face in extending loans to eligible Energy Efficiency sub-projects. SIDBI is Project Executing Agency for this programme. Each energy saving loans given by Participating Financial Institutions (PFIs) is partially guaranteed for a maximum tenure of 5 years with guarantee coverage ranging from 40-75% of the loan amount or Rs. 15 crore per project. Till date there are 12 banks/ NBFCs who are already empanelled with SIDBI for PRSF. For more information regarding this scheme please check their website http://prsf.sidbi.in/
To upscale EE financing, BEE is in process of designing new financing instruments under FEEED.
BEE’s Facilitation centre:
Bureau of Energy Efficiency (BEE) has set-up a Facilitation Centre for encouraging and up scaling Energy Efficiency Financing in the country. The objective of the Facilitation Centre is as follows:
- To develop an online platform for connecting FIs with potential borrowers to mobilize energy efficiency financing;
- To collect the willingness forms and spread awareness of BEE’s financing schemes among various beneficiaries like large industries /DCs under the Perform, Achieve and Trade Scheme of BEE, MSMEs, commercial and institutional buildings, Municipalities, Corporations, and commercial establishments; and,
- To prepare the list of energy efficiency technologies that will be uploaded on new IT platform and BEE’s website.
Stakeholders interested in seeking financing for implementing energy efficiency measures are requested to fill up willingness form and technical details form for submission to the BEE’s Facilitation centre.