Customized Business Investments in Renewable energy

Investing in solar heating, solar power, sea energy, wind power or biogas/biomass use can help your firm by:

  • Saving money on increasingly expensive grid electricity.
  • Reducing your dependence on the volatile International fossil fuel market.
  • Availing of new net metering legislation (this allows you to get energy from the grid free of charge equivalent to the excess you have provided during peak generating times, thereby helping you to become completely energy independent);
  • Insulating you against power supply failures;
  • Using waste products like animal/ municipal waste.

     

Typical Renewable energy investments

Renewable Energy loans are available for all applications that meet the general criteria and are valued at over JOD 300,000, for investments, for example:

  • Solar thermal PV system.
  • Photovoltaic (PV) equipment.
  • Wind turbines.
  • Biomass converting large amounts of waste products or
  • Biogas to generate electricity from animal, vegetable and municipal wastes.

 

Applications procedures

The procedure to apply for a non-standard loan involves just four simple steps:

Step 1: Apply for loan


To apply for a loan less than USD 1 million, simply download this application form. (for a loan greater than USD 1 million, please download this application form) fill in and send to one of the partner banks or to the SUNREF office directly, along with the requested supporting documents.
Should you have any questions about the process or eligibility of your investment, feel free to contact the SUNREF office, or a local partner bank who can advise you about the application process.

Step 2: Signing Letter of Engagement and Project Assessment 


The SUNREF experts will assess the technical eligibility for financing your project under SUNREF based on the information provided.
Where needed this may involve a site visit or request for additional information. In addition, SUNREF engineers might recommend possibilities to enhance the project design to ensure a faster payback from energy cost savings.

Step 3: Loan agreement is signed and project implemented


If the project is eligible, the bank will proceed with its normal credit procedures and negotiate the terms of the loan.

Step 4: Implementation is verified and grant payment reimbursed

Upon completion of the project, documentation for EE/RE investments is submitted to a separate verification auditor to issue completion certificate.  5% reimbursement of the total loan is directly transferred by the bank to the beneficiary’s account.

Eligibility criteria for RE projects

  • Loans of up to USD 5 million are available for any investment not covered by the LEMSI that will produce energy (heat, steam, electricity) without fossil/radioactive sources, assuming the applicant meets the credit criteria of the bank.

What kinds of businesses can benefit?

SUNREF is available to companies that meet the local bank’s credit approval criteria and are:

  • Incorporated in Jordan.
  • Majority is privately owned and controlled
  • Operating or in industrial or commercial sectors (Excluded sectors)
  • In compliance with national environmental, employment and social legislation.

 

Excluded sectors