Reon Energy, with its 1.86 MW project, completed the first SBP Category 3 Financing project in May this year. This marks a milestone for Sustainable financing in Pakistan. Find out how Reon Energy can help you avail renewable energy financing for your business.
The State Bank of Pakistan’s Financing Scheme for Renewable Energy is an initiative designed to promote renewable integration in the economy. The Scheme has already generated significant interest among sponsors and suppliers of renewable energy.
Under Category 3 of the scheme, energy suppliers certified under AEDB can gain financing from SBP. This provides lower-cost electricity to clients looking for “Opex Solutions” for their “Opex Problem” of rising electricity tariffs.
The financing is available for leasing of renewable energy equipment or sale of electricity to the ultimate owners with a capacity cap of 5MW per project.
Reon is proud to be the first energy supplier to gain financing under category 3 of the scheme to finance a Power Purchase Agreement of 1.85MW for a Multi-National Corporation in Pakistan.
The project will result in significant savings for the client compared to Grid Tariffs and helps achieve the renewable ambition of reduced carbon emissions.
In line with the above, Reon intends to expand its reach through this scheme and already has 10MW+ projects at different stages of the pipeline.