State Bank of Pakistan enhances scope of scheme for financing power plants using renewable energy

Karachi, July 30, 2012 (PPI-OT): The State Bank of Pakistan (SBP) has enhanced the capacity limit of all renewable power projects from 10 MW to 20MW for financing under the ‘Scheme for Financing Power Plants Using Renewable Energy.’

Banks / Development Finance Institutions (DFIs) can consider financing requests of the sponsors, who intend to set up Power Projects up-to a maximum capacity of 20 MW, using all types of renewable energy sources eligible under the Scheme, says IH and SMEFD Circular Letter No.11, issued to the Presidents/ CEOs of all banks/DFIs today.

The maximum financing limit to a single renewable power project under the Scheme has also been fixed at Rs 3 billion to accommodate larger number of borrowers. However, banks/DFIs may continue to provide financing facilities as per their credit policies over and above the maximum limit from their ownsources subject to adherence to the Prudential Regulations, the Circular Letter added.

SBP has taken these steps to promote Power Plants using Renewable Energy in the country after receipt of feedback from the Alternative Energy Development Board (AEDB).

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563

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