The Eastern Power Distribution Company of AP Limited in association with Andhra Bank is planning to help the people interested to avail Rooftop Solar Power Net Metering (RSPNM) by introducing bank loan system. Under the new system, the applicant will be given a bank loan and the EMI amount will be collected as part of their electricity bill. For example, 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.
Andhra Bank, Visakhapatnam zone, deputy general manager B Vijaya Lakshmi 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.” Meanwhile, APEPDCL CMD MM Nayak said he has called for a meeting on November 18 with NREDCAP officials headed by MD M Kamalakara Babu to adopt various liberalised methods to promote RSPNM project in the discom’s jurisdiction covering Srikakulam, Vizianagaram, Visakhapatnam, East Godavari and West Godavari districts.