FAQ on Solar Financing

In the series of Solar Power Plant FAQs, today we will cover the financing queries that we often get from our valuable clients.

 Q: Who will fund my solar project?

 A: Grit has multiple financiers to finance solar power plants for both CAPEX and OPEX Solar Projects. Based on project size and loan tenure we suggest the optimum solution for our valuable clients.

 Q: What portion of the loan will be covered by the financier?

 A: Based on the financial standing of the clients, financiers cover up to 80% of the project value.

 Q: Can I have finance for any size of solar project?

 A: We encourage the client to avail finances for projects above 1 MWp for a better interest rate. However, we are also open to smaller (But not below 200 kWP) solar projects.

 Q: Will I get money by net metering?

 A: Net metering allows the client to export extra generation to the grid and use it later when they need it from the grid. Typically, clients can only avail 70% of their sanctioned load under the scheme of net metering. In an ideal case, the monthly usage never surpasses generation. However, any extra solar energy generation is adjusted to the monthly bill and carried forward to the next month as credit.

 Q: Who will maintain my solar project?

 A: Grit encourages the client to subscribe to our monthly maintenance agreement so that the performance headache doesn’t bother the client at all. However, the client is free to have his own maintenance team (Grit trains up the team for optimum performance).

Ps. Most of our financiers remotely monitors the plant performance and give clients monthly generation reports.

 Q. How much money can I save from a 1 MW solar plant?

 A: The minimum monthly savings from a well-maintained 1 MW solar power plant is BDT 4 lac during the loan period (10 years). After the installment period is over, the monthly savings will go beyond 13 lac (incremental per year).

 Q. If my plant doesn’t work, who will take the liability?

 A: The financier makes sure the plant operates and saves money for the client and monitors plant performance accordingly. Based on the subscription-based maintenance scheme, Grit is also liable for the plant’s performance.

 Q. Who will bear the cost of ESG and other compliance-related costs?

 A: All those costs are inside the project value and covered by the financier’s loan amount.

Should you have any more queries, please don’t hesitate to contact us. Our Hotline: 01886997646

Thanks for being with Grit Technologies Limited!