PRGFEE

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Partial Risk Guarantee Fund for Energy Efficiency (PRGFEE)

 

Overview:

Under NMEEE, BEE has institutionalized PRGFEE for addressing the debt related issues in financing EE projects. PRGFEE is a risk sharing mechanism to provide Participating financial institutions (PFIs) with a partial coverage of risk involved in extending loans for EE projects. PRGFEE guarantees 50% of loan amount or Rs. 10 crore per projects, whichever is less. PRGFEE support has been provided to government buildings, private buildings (commercial or multi-storey residential buildings), municipalities, SMEs and industries.  This guarantee is extended to financial institutions which will extend loans to ESCOs for implementing EE projects.

PRGFEE Rules were notified in May 2016. Operations Manual for PRGFEE has also been approved. BEE has appointed a consortium of RECPDCL-REC-EESL as the Implementing Agency for PRGFEE. Till date, four FIs have been empanelled under PRGFEE which are Andhra Bank, Yes Bank, Tata Cleantech Capital Ltd. and IDFC Bank.