Section 2 in The Energy Conservation (Partial Risk Guarantee Fund for Energy Efficiency) Rules, 2016
2. Definitions.
(1)In these rules, unless the context otherwise requires,-(a)"Act" means the Energy Conservation Act, 2001 (52 of 2001);(b)"beneficiary" means any person who enters into a contract with an energy service company empanelled with the Bureau for execution of an energy efficiency project in the premises in its possession, based on energy savings performance contract;(c)"Bureau" means the Bureau of Energy Efficiency, an organisation setup under the Act;(d)"default" means an event when the Trust and Retention Account is not able to honour the interest or instalment of the principal of loan amount within the guarantee tenure and the project becomes nonperforming asset for the participating financial institution;(e)"eligible borrower" means the energy service company, empanelled by the Bureau or joint venture of energy service companies to whom credit facility has been provided by the participating financial institution, referred to rule 5;(f)"energy efficiency loan" means the loan sanctioned by the participating financial institution to the borrower for execution of energy efficiency project based on energy savings performance contract;(g)"energy savings performance contract" means a contract entered into the beneficiary and the borrower under which payments to the borrower are based on the meeting specified performance guarantees related to the implementation of energy efficiency project under Fund;(h)"energy service company" means a company or set-up for implementing energy efficiency projects, which is empanelled with the Bureau;(i)"Fund" means the Partial Risk Guarantee Fund for Energy Efficiency established under rule 3;(j)"guarantee agreement" means an agreement between the implementing agency and the participating financial institution in respect of energy efficiency loan which shall govern the relationship between the parties and specify, inter alia, eligibility conditions, limits of liability and approval, loan appraisal and post-closing reporting guidelines or procedures and other related matters for a particular energy efficiency loan;(k)"guarantee claim" is the amount of risk coverage which the participating financial institution opts to claim from the Bureau under Partial Risk Guarantee Fund for Energy Efficiency;(l)"guarantee facility" means guarantee provided by Partial Risk Guarantee Fund for Energy Efficiency based on certain pre-defined criterion, to any loan extended by the participating financial institution to an eligible borrower;(m)"guarantor" means the implementing agency selected by the Bureau;(n)"implementing agency" means a public financial institution, registered under section 4A of the Companies Act 1956 (1 of 1956),selected by the Bureau for executing the activities under the Partial Risk Guarantee Fund for Energy Efficiency, specified in rule 9;(o)"measurement and verification agency" means an empanelled measurement and verification agency of the Bureau under Partial Risk Guarantee Fund for Energy Efficiency;(p)"memorandum of understanding" means a formal agreement between the Bureau and the participating financial institution empanelled with the Bureau;(q)"measurement and verification" means the mutually agreed procedures, between the borrower and the beneficiary, for measurement and verification of energy savings achieved periodically after the commissioning of the energy efficiency projects;(r)"non-performing assets" means an asset in the books of participating financial institution, classified as non-performing asset based on the instructions and guidelines issued by the Reserve Bank of India from time-to-time;(s)"participating financial institution" means a financial institution empanelled with the Bureau, in accordance with the operations manual mentioned in clause (b) of sub-rule(3) of rule 7, for participating in the Fund, such as scheduled commercial bank (other than regional rural bank)or public financial institutions (registered under section 4A of the Companies Act 1956 (1 of 1956))or non-banking financial companies with the certificate of registration from Reserve Bank of India, registered under the category of non-deposit taking non-banking financial companies, Systemically Important Core Investment Company not raising public deposit or Infrastructure Finance Companies applying for guarantee facility under Partial Risk Guarantee Fund for Energy Efficiency;(t)"Partial Risk Guarantee Fund for Energy Efficiency" means a risk-sharing mechanism to provide participating financial institutions with a partial coverage of risk involved in extending loans for energy-efficiency projects;(u)"projects" means a proposal eligible for guarantee of loans for energy service company submitted by participating financial institution to Partial Risk Guarantee Fund for Energy Efficiency, as referred to sub-rule (7) and (8) of rule 4;(v)"Supervisory Committee" means the committee set up by the Bureau with the representatives from the Bureau, Ministry of Power, Ministry of Finance and other members nominated by the Ministry of Power, as referred to rule 7;(w)"Trust and Retention Account" means a pass-through account, created within a Trustee Bank, which may be the participating financial institution itself, by signing an agreement between the participating financial institution, the borrower and the beneficiary through which all proceeds in a particular energy efficiency project under the scheme would be routed by the beneficiary.
