The new interest subvention scheme for Concentrating Solar Thermal (CST) technologies administrated by the Indian Renewable Energy Development Agency (IREDA) is now open for applications. The scheme has been developed in cooperation with the UN Industrial Development Organisation (UNIDO) during the GEF-UNIDO-MNRE project, which focuses on increasing the deployment of concentrating solar thermal systems for process heat applications in India. “Technology providers or beneficiaries can use a short-term bridge loan at normal interest rates for pre-financing the 30 % capital subsidy that the Ministry of New and Renewable Energy grants for CST technologies,” explained Dr Anil Misra, National Project Manager at UNIDO (see photo). IREDA also hands out long-term loans covering up to 45 % of the benchmark system cost at 5 % lower-than-usual interest rates. The remaining 25 % are required as equity by the beneficiary.