Eligibility Criteria For (PRSF) PFI
How to become PFI
PEA will empanel suitable financial institutions across the duration of the project. Any Scheduled Commercial Bank or Non-Banking Financial Company (NBFC) registered with Reserve Bank of India (RBI) would be eligible to express their interest for empanelment with PEA for the project. Only the empanelled financial institutions – called the PFIs, with whom PEA has entered into an Agreement – will be allowed to access the PRSF fund corpus in the PFI sub-account and lend to ESCOs or host entities implementing ESPC-based EE projects.
Eligibility norms for empanelment of PFIs
The financial institutions interested for empanelment with SIDBI for the project should fulfill the following conditions:
Should be a Scheduled Commercial Bank or Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI)
Should not have been declared ineligible to be awarded an IDA or IBRD financed contract in accordance with the World Bank Sanctions Procedures
Should not have been debarred under any act of compliance with a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations
Should have a minimum CRAR as prescribed by Reserve Bank of India.
NBFC should have at least BBB credit rating from an agency recognized by Reserve Bank of India
Should have average net worth of INR 500 million or its equivalent in foreign currency over the last three (3) years
Should be active in lending business for a minimum period of 3 years and should have profitable track record for a minimum of last 2 years
Experience in financing of energy efficiency & renewable energy projects would be preferable.
Satisfactory internal governance (including fit and management of board), as assessed by PEA
Existence of adequate risk management systems, as assessed by PEA
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