Ministry of New and Renewable Energy (MNRE) has launched Jawaharlal Nehru National
Solar Mission (JNNSM) with an objective to promote the use of renewable sources
of energy and also facilitate increased penetration of solar technology in the country.
The mission envisages providing capital and interest subsidy to make the solar off-grid
projects commercially viable and workable on a sustainable basis.
To scale up the said program, increase participation of capable entities and reduce
transaction time, the Mission has envisaged that Renewable Energy Service Companies
(RESCOs) and System Integrators obtain an accreditation from a rating agency like
Credit Analysis & Research Ltd. (CARE) so as to enable them to submit project directly
to MNRE.
CARE has been empanelled by MNRE for carrying out the Accreditation/Grading exercise
for Renewable Energy Service Companies (RESCOs) and System Integrators (SI) under
Jawaharlal Nehru National Solar Mission. CARE’s Grading will reflect “The performance
capability and financial strength of channel partner to undertake off-grid solar
projects.”
CARE‘s grading will reflect “The performance capability and financial strength of
channel partner to undertake off-grid solar projects.”
Grading Parameters for RESCO
Performance Capability
Promoter Track Record
Project Management Capability
Customer Concentration, Quality and Ability to Manage Receivables
Financial Strength
Networth
Bankers Feedback
Financial Flexibility Project Related Assessment
Grading Parameters for System Integrators
Performance Capability
Promoter Track Record
Technical Competence
Adequacy Of Manpower
Quality Of Suppliers and Tie-Ups
Customer And O&M Network
Financial Strength
Networth
Return on Capital Employed
Current Ratio
Outside Liabilities/Tangible Networth
Interest Coverage
Bankers Feedback On Conduct Of Account & Integrity
To enable channel partners to submit the project proposal directly to MNRE thereby
reducing transaction time
Grading would enable the channel partners to showcase their capability in executing
projects to various stakeholders.
Facilitates faster access to capital and interest subsidy
Scope for Self Correction and improvement on capability performance and financial
soundness.
Encourage participation of startups and innovative entrepreneurs with requisite
technical skills.