Scheme on Interest free loan for Energy Conservation Measures in Haryana

This program was set up to provide financial assistance for industry, government institutions, municipal and commercial buildings towards implementing energy audits. The assistance will be in the form of interest free loans against a bank guarantee that is 1.25 times that of the assistance for three and half years. The financial assistance will be limited to 75 percent of the cost or INR 20 lakh, whichever is lower and beneficiaries are to repay it to HAREDA in five instalments.The program wants to optimize the use of energy and cut down consumption by around 25% to 30%. The incentive timeframe is around 3.5 years. In case of default of payment of any instalment, a penalty of 2% per month of the released amount will be charged. In case of delay by more than 3 months, the entire bank guarantee will be revoked without any further notice given.

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