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[Cites 0, Cited by 0] [Section 15] [Entire Act]

Union of India - Subsection

Section 15(15) in Joint Electricity Regulatory Commission (Terms and Conditions for Tariff determination from Renewable Energy Sources) Regulations, 2019

15.2Interest Rate
(a)The loans arrived at in the manner indicated in Regulation 14 shall be considered as gross normative loan for calculation for interest on loan.
(b)The normative loan outstanding as on April 1st of every year shall be worked out by deducting the cumulative repayment up to March 31st of previous year from the gross normative loan.
(c)For the purpose of computation of tariff for Renewable Energy Projects in Mainland Areas, normative interest rate as mentioned in the Table below shall be considered.
Table: Normative Interest Rate
Particulars Interest Rates
Mainland SBI MCLR (One-year tenor) prevalent during thelast available six months + 200 basis points
Island SBI MCLR (One-year tenor) prevalent during thelast available six months + 300 basis points
(d)Notwithstanding any moratorium period availed by the generating company, the repayment of loan shall be considered from the first year of commercial operation of the project and shall be equal to the annual depreciation allowed.