Tuesday, 27 March 2012

Akshay Urja Shops

Akshay Urja Shops are retail outlets which would sell and service all Renewable Energy Devices and Systems including Solar Energy Products. This effort is being promoted by the Ministry of New and Renewable Energy which will provide support to the shops in terms of soft loans through banks and monthly recurring grant & incentive for first two years of operation. 1

The network of Akshay Urja Shops would cover all the districts of the country. Some features of the shops are:

  • State Nodal agencies, Private entrepreneurs and NGOs can set up and operate such shops in all districts of the country. 
  • Only one shop per district.
  • The scheme will be operated through State Nodal Agencies and Indian Renewable Energy Development Agency (IREDA).
  • Applicants are eligible to avail loans to a maximum of 85% of the cost of establishment subject to a maximum of Rs.10 lakhs through designated banks for establishment of the shops at an interest rate of 7%. It is repayable over a period of five years.  . 
  • The shops shall disseminate information on renewable energy devices/ systems.
  • Facilitate individuals/companies to go in for renewable energy devices by establishing linkage with banks. 
  • To make the shops  commercially viable, the shop may sell energy- efficient items, such as compact fluorescent lamps (CFL), lighting accessories, high efficiency kerosene stoves etc. in addition to the items related to renewable energy.

These were previously called Aditya Solar Shops.

1. http://www.bankofindia.com/aksayurja.aspx

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