Section 3 in The Energy Conservation (Partial Risk Guarantee Fund for Energy Efficiency) Rules, 2016
3. Establishment of Partial Risk Guarantee Fund for Energy Efficiency.
(1)The Bureau shall establish a Partial Risk Guarantee Fund for Energy Efficiency for providing Partial Risk Guarantee to the financing of energy efficiency projects proposed by the energy service companies.(2)The Fund shall be administered by the Bureau of Energy Efficiency.(3)The activities of the Fund shall be executed by the implementing agency, which shall be a public financial institution selected by the Bureau, as specified in rule 9.(4)All the grants and loans that may be made by the Central Government for the purposes stated in these rules and interest on fund money and fees charged for providing guarantees shall be credited to the fund.(5)For the purpose of the Fund -(a)the Bureau shall charge guarantee fee and application fee;(b)application fee shall be of the maximum guaranteed amount applied for by the participating financial institution at the time of application which shall be non-refundable;(c)the guarantee fee shall be one-time fee of the amount guaranteed for each project which shall be payable after approval and before signing of guarantee agreement.
