SBP Issue Different Renewable Energy Financing Scheme
According to news sources, the State Bank of Pakistan (SBP) has introduced the “Refinance Scheme for Renewable Energy” for renewable energy solution providers in Karachi. According to information released by the bank, the central bank has requested that Renewable Energy Investment Entities (RE-IEs) obtain financing for renewable-energy projects on favourable terms.
Read: Funds Rotated for Maintenance, Rehabilitation of Road Network in KP
717 firms with an installed capacity of 1,082MW were provided with PKR 53 billion in soft loans as part of the initial funding plan established in 2019 to support green energy solutions. Previously, RE-financing was divided into three categories:
- Category I consists of entities with installed capacities between 1 and 50 MW (for personal use)
- Category II includes entities with a 1 MW installed commercial capacity.
- Category III consists of organisations with a total installed capacity of 5 MW from wind and solar systems.
Under the 2019 plan, commercial real estate in Categories I and II received the most funding, while commercial real estate in Category III encountered significant challenges. However, it is anticipated that entities in Category III will benefit from the new funding structure.
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