Centre floats scheme to help renewable energy equipment vendors

Our Correspondent Madurai | Updated on March 12, 2018 Published on July 20, 2011

The Union Ministry of New and Renewable Energy (MNRE) has introduced a scheme to achieve the twin objectives of helping new and young entrepreneurs enter the renewable energy business and make renewable energy products easily available besides providing after-sales service, repair and maintenance.

According to Mr S.E.S. Syed Ahamed, Tamil Nadu Energy Development Agency (TEDA) Deputy General Manager (Madurai Region), the scheme, ‘Aditya Urja Shops', envisaged one renewable energy equipment shop in all major cities in the country.

Only one shop can be established in each district under the scheme.

Districts having a shop already established are not entitled for more shops.

Seven districts of Tamil Nadu have been sanctioned Akshay Urja Shops and these includedChennai, Coimbatore, Tirupur, Nagercoil, Sivaganga, Madurai and Dindigul.

A total of 297 Akshay Urja Shops/Aditya Solar Shops have been sanctioned, which have either been established or are under establishment in 28 States/Union Territories.

The shops are being expanded by encouraging private entrepreneurs and non-governmental organisations (NGOs) to establish and operate such shops.

The scheme is being implemented on a “first-come, first-served” basis, he added.

Applicants can avail loans up to Rs 10 lakh through designated banks at an interest rate of 7 per cent.

In addition, recurring grant and incentive linked with turnover of up to Rs 10,000 a month (subject to certain conditions) during the first two years of operation will also be available. The scheme will be operated through State nodal agencies and Indian Renewable Energy Development Agency, he added.

Published on July 20, 2011
This article is closed for comments.
Please Email the Editor