Karachi: The State Bank of Pakistan (SBP) on Wednesday announced its decision to expand the scope of its refinance scheme to companies selling solar and wind energy products, a news source reported. According to a statement, a number of decision have been taken based on the reviews by the stakeholders including the decision to enhance the size from 1 megawatt to 5 megawatts for the projects established by vendors, suppliers and energy sale companies.
SBP has also increased the financing limit from PKR 1 billion to PKR 2 billion as part of its efforts to attract local and foreign investments in the renewable energy sector. The investment will also facilitate the production of clean energy within the country.
The scheme was originally introduced in June 2016 for financing renewable energy and successive governments have since expanded it to include more categories of renewable energy. Total financing under the scheme stands at PKR 15.6 billion for 217 projects which will add 292 MW to energy supply.