Home Technology Solar PV Project Financing for Industries

Solar PV Project Financing for Industries

Solar PV Project Financing for Industries

Lahore: June 20, 2016 – Industrial users of electricity today are open to PV solutions to reduce their day to day to expenses and their impact on climate, but project financing is one of the bigger challenges that yet needs to be addressed.

downloadForms of solar project financing such as third party Power Purchase Agreements (PPA) and Solar Leases have gained massive approval in United States and other developed nations. Under a PPA, an installer builds a solar system at the client’s property at zero-upfront cost. The system offsets the customer’s electric utility bill, and the developer sells the power generated to the client at an agreed upon tariff rate that is typically lower than rates of the local utility at no additional responsibility; whereas solar leases allow the user to lease the plant at predetermined rates with zero or low initial costs. Both of these models enable the customer to support solar power and avoid costs arising from operations and maintenance that are generally transferred to the developer.It is needed that banks and other local and international lending institutions provide adequate support to these project developers to offer better financing options to the industrial user.“With rapidly developing technology, and falling panel costs, it is essential that the Government provides financial provisions to encourage solar installations for businesses and households alike. We are currently in talks with a couple of banks that have shown interest in financing solar power projects. Payments plans for borrowers, connection to grid in case of net-metering and other technicalities should be addressed on priority to meet the country’s energy needs,” said Inam ur Rahman, CEO, Reon Energy Limited.Ease in financing of solar power projects shall encourage robust investments in solar energy sector. With sun energy present in abundance in Pakistan, solar energy technologies shall help save on electricity bills for both businesses and households.

Must Read

“Check out OPPO’s collaboration with talented Travel Photographer Ali Awais as he portrays the rich culture of Karachi in OPPO Gallery with the new...

OPPO is a brand that cares about its customers and truly believes that technology is for the people. The recent launch of the new...

Pakistan’s # 1 smartphone brand Infinix unveils latest Hot 10 play at PKR 16,999

Infinix, Pakistan’s leading smartphone brand that has carved a niche for itself in the mid-range segment has finally launched much awaited Infinix Hot 10...

SCO ANNOUNCES WINNERS OF ONLINE PAINTING COMPETITION – 2020

Special Communications Organization (SCO) is pleased to announce the winners of SCO Online Painting Competition 2020. The online competition was called in April 2020...

TECNOPhotoWalk captures the magnificence of Islamabad through the lens of Camon 16

TECNO keeps bringing innovative campaigns, continuing the legacy of raising the bar higher for building engagement with its fans and customers. The renowned smartphone...

  Zameen.com and Bank Alfalah sign MOU to promote construction and housing sector   Lahore: In line with the vision of the Government of Pakistan & the...