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Workshop on ‘Bill Finance’

Staff Reporter

Tirupur: The Tamil Nadu Industrial Investment Corporation Limited (TIIC) conducted a workshop here on Thursday evening to disseminate information about its recently introduced ‘Bill Finance’ scheme to wind mill owners.

Explaining the salient features of the scheme, P. Sundaram, branch manager, TIIC, said that financial assistance would be extended to wind energy producers who sell their entire output to Tamil Nadu Electricity Board.

He said that drawing limit was fixed at 75 per cent of the net amount due from Tamil Nadu Electricity Board with a credit period of 120 days, which could be relaxed to 180 days. “An attraction is that the wind mill owners need not have to produce any collateral security,” he added.

Rate of interest would be 14.5 per cent up to 120 days.

The documents to be produced to obtain assistance under the scheme included copies of power purchase agreement and energy generated statement, advance stamp receipt and post dated cheques.

The TIIC officials also explained the corporation’s Wind Mill scheme which was meant to encourage entrepreneurs to set up wind mills for captive consumption of renewable energy by installing wind mills as well as for selling the power to TNEB.

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