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The Indian Renewable Energy Development Agency (IREDA) has sanctioned loans amounting to Rs.6945 crore, upto 31 March 2005 for setting up non-conventional energy projects in the country. Of this an amount of about Rs.600 crore was sanctioned in the last year i.e.2004-05 against Rs.423.57 crore sanctioned in the year 2003-04.
IREDA provides loans upto 80 per cent of the approved project cost to project promoters/developers with a repayment period of upto 12 years, which includes a moratorium period of upto 3 years. The interest rate on IRDEA loans varies between 5 and 12 per cent, depending upon the nature of the project.
Above information was given by Shri Vilas Muttemwar, Minister of State (Independent Charge) for Non Conventional Energy Sources in a written reply in the Lok Sabha today.
rcj/kc/ mnes - loan for nces projects (6.5.05)
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