Dr. Arun Kumar launches SWHS scheme

Principal Secretary for Information and Science and Technology, Mr. Arun Kumar, today launched Interest Subsidy Solar Water Heating Systems (SWHSs) scheme in association with the Indian Renewable Energy Development Agency (IREDA) at SKICC, Srinagar. The Ministry of New and Renewable Energy (MNRE), Government of India extends soft loans/interest subsidy at 0% to domestic users, 3% to industrial users and 5% to industrial/commercial users through IREDA of J&K. The consumers under the scheme could avail soft loan facility through IREDA empanelled Financial Institution (FI’s) upto 85% of the cost of the system repayable over a period of 5 years. In respect of J&K State, IREDA has empanelled the J&K Bank as its FI. JAKEDA facilitated the signing of memorandum of understanding between the managements of J&K Bank and IREDA for the implementation of the scheme in the state.

Speaking on the occasion, he said that there is a tremendous scope for deploying SWHSs in both the domestic and commercial sectors of the state especially in hospitals, hostels and hotels. He emphasized that the switch over from conventional electric geysers to the solar geysers has become more pronounced with the introduction of electronic meters by the PDD in the state and expected that the launch of the scheme is going to generate overwhelming response from the consumers of all shades of the state.

Dr. B.V. Roa, General Manager, IREDA and Dr. Sant Ram, Director, MNRE presented the IREDA and MNRE perspective respectively on the SWHS scheme. Mr. Shah Hussain of J&K Bank was also present on the occasion.

Mr. Shafat Sultan, CEO JAKEDA in his welcome address highlighted the salient features of the scheme vis-à-vis the ambient conditions of the state. The business meet was also attended by Branch Managers of J&K bank, State Bank of India, Punjab National Bank, Akshay Urja Shop owners of the state and other stake holders