Generation Based Incentive (GBI) was announced by the Ministry of New and Renewable Energy (MNRE) for Grid Interactive Wind and Solar Power Projects with the main aim to broaden the investor base, facilitate the entry of large Independent Power Producers and to provide level playing field to various classes of investors. The GBI is provided over and above the feed in tariff approved by State utilities
Based on verification by IREDA- GBI group regarding pending eligible GBI claim of the applicant in line with existing GBI policy.
0.90% p.m. (10.80% pa) to be adjusted from the GBI receipts from MNRE against the claim. Shortfall, if any, will be payable by the borrower on demand. The interest shall be calculated on daily basis and shall be charged during the currency of the Bridge loan/till the same is paid/adjusted against the GBI release by MNRE/paid by the borrower
The amount of loan assistance/ Bridge loan shall be within the unutilized funds of Government Budget/MNRE Scheme for Generation Based Incentive (GBI) for Grid Interactive Wind & Solar Power Project.
• In case it is felt that the recovery/payment of GBI amount against which loan assistance has been provided is doubtful, borrower will be liable to pay on demand entire such amount including interest and other charges to IREDA.
• IREDA will also have the option to adjust its dues against any other claim of the borrower being handled by IREDA in case of any shortfall.
Loan amount to be recovered out of GBI proceeds received / to be received from MNRE. Shortfall, if any, will be recovered from the borrower, which will be payable on demand.
Charge on GBI receivables from MNRE. The Charge shall be created by the borrower within stipulated time as indicated by ROC
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