APEPDCL to provide EMI scheme on Rooftop Solar Power Net Metering

The Eastern Power Distribution Company of AP Limited (APEPDCL) with collaboration with Andhra Bank is planning to introduce bank loan system for the people interested to avail Rooftop Solar Power Net Metering (RSPNM).

Under the new loan system, the applicants will be provided with a bank loan and the EMI amount will be collected as part of their electricity bill. Suppose, if an applicant’s electricity consumption charges is Rs 100 and the EMI amount is Rs 100, he will have to pay Rs 200 as electricity bill till the closure of the loan.

Vijaya Lakshmi, Deputy General Manager, Andhra Bank, Visakhapatnam zone said, “The proposal has been sent to our head office for approval. The scheme is proposed for the people who are not able to show security deeds to get the loan. The candidates who can show security deeds like LIC bonds and immovable properties can directly get a loan for RSPNM.”

APEPDCL CMD MM Nayak mentioned that he has called for a meeting on 18^th November with NREDCAP officials headed by MD M Kamalakara Babu to adopt various liberalized methods to promote RSPNM project in the discom’s jurisdiction covering Vizianagaram, Srikakulam, Visakhapatnam, East Godavari and West Godavari districts.

Source: TOI