Alfalah Green Energy (Solar Bank Financing, SBP approved)
A term finance facility for customers willing to install solar energy equipment for generation of electricity ranging from 4 KW to 1000
KW with net metering.
Features and Benefits:
- Customized financing solutions
- Affordable mark-up rates
- Repayment tenure of up to 5 years
- Limit Enhancement facility
- Replacement Financing (Post Facility Pay-off)
Target Market & Eligibility Criteria / Documentary Requirements:
Individuals / Staff (preferred companies) with an intent of net-metering:
- Clean e-CIB report
- Income proof / salary slips / bank statement
- Utility bills of last 1 year
- Non-objection certificate from all owners in case of joint property
- Installment amount should not exceed 20-30% over and above 3-month peak bill average
- Load applicability assigned by respective DISCO & Vendor survey report
Commercial, SMEs & Agri Business:
- Clean e-CIB report
- Proof for being in the business for at least three years (not applicable for Agri customers)
- Utility bills of last 1 year (not applicable for Agri customers)
- Non-objection certificate from all owners in case of joint property
- Installment amount not to exceed 20-30% over and above 3-month peak bill average (not applicable for Agri customers)
- Load applicability assigned by respective DISCO & Vendor survey report
Suppliers:
Must be registered by Alternative Energy Development Board. Payments shall only be made to pre-approved vendors / suppliers
Mark-up Rate:
6% per annum
Frequency of Payments:
Principal: Monthly / Quarterly / Bi Annually
Mark-up: Monthly / Quarterly
Financing Tenure:
Up to 5 years with 3-month grace period
Down Payment:
- Self-Owned Premises & Agri Facilities: 20%
- Rental & Leased Facilities: 25%
- Staff (with an intent of net-metering): 10%
Security:
- Hypothecation of Equipment
- Personal Guarantees
- Security Cheques
- Insurance
- Mortgage of property, cash / cash equivalent securities (shall be case dependent)
Limit Caps:
(adequate collateral as per bank policy is required for following cases)
- › Rental Premises Residential customers: above 2.5 million
- Owned Premises Residential customers: above 4.0 million
- SMEs & Commercial businesses: above 10.0 million
- Agri Customers / Business (Farming / Non-Farming): collateral equivalent to loan amount shall be taken for all cases
- Maximum Loan Amount for single borrower: 400 million
Processing Charges:
Processing charges Rs. 5,000/- or 0.2% of the loan amount whichever is higher, non-refundable per application
Insurance:
Insurance for the first year will be charged upfront with down payment and will be built in instalments for remaining years