(i) No borrower shall be eligible under the PRGFEE unless-
a. the BEE’s empanelled energy service company; or
b. the joint venture of energy service companies formed under the laws of India where the BEE’s empanelled energy service company shall have share capital of at least 50%, Provided that the PFI and its affiliates, subsidiaries, joint ventures, associates do not own, separately or in the aggregate, directly or indirectly, more than 10% of the total issued and outstanding share capital of such entity;
(ii) the loan proceeds shall be utilized for the purpose of financing an eligible borrower’s investment in goods and services intended for the energy efficiency projects.
Copywrite 2016 PRGFEE | All Right Reserved