Solar Panel Manufacturers: Banks may ease lending norms for solar units

NEW DELHI: Banks want to ease lending norms for small and medium scale photo voltaic panel producers, who account for half of the home capability and are dealing with headwinds from surging duty-free imports from southeast Asian international locations underneath FTA (free commerce settlement). At a current assembly with the producers in Mumbai, bankers led by SBI agreed to ease the situations of in search of collateral and take private assure solely from the proprietor and never their fast household.

The lenders mentioned different funding hurdles the producers identified at a July 18 assembly the monetary providers secretary had with renewable power ministry officers and bankers. The ministry’s presentation listed excessive borrowing prices in comparison with China, restricted capital pool as a result of sectoral model of banks, a decreased debt ceiling and brief tenor of loans amongst key points.
North India Module Producer Affiliation president Manish Gupta sought precedence sector/infrastructure lending standing and curiosity subvention for small and medium photo voltaic enterprises. “They make up 50% of home capability and generate extra employment than mega factories. Surging FTA imports make authorities assist mandatory as panel manufacturing will want over Rs 1 lakh crore in funding over the following few years to satisfy photo voltaic targets,” he mentioned.

“The PLI (efficiency linked incentive) scheme has largely benefited massive gamers. Points are dominated by massive gamers, leaving out small and medium module makers, who account for half of the capability within the nation ,” he mentioned to underline the significance of small and medium gamers.

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