Call for Banking Support to Scale Up Renewables

The government has provided incentives for investments in renewables, but the banking system needs to extend more support to finance these projects
Call for Banking Support to Scale Up RenewablesCall for Banking Support to Scale Up Renewables
Electricity should be considered an essential commodity and subsidies must be offered for importing solar equipment

The prospect of meeting a sizable share of electricity demand through renewables requires a stronger support by banking system, a senior energy official said.
"However, such a promise by the government has not been fulfilled by financial institutions," Mohammad Javad Mousavi, a board member of Iran Renewable Energy Association, was also quoted as saying by ILNA.
Mousavi noted that despite the government's promise to make the guaranteed purchase of power generated by renewable power plants, "banks are not cooperating with the projects", which is poisoning the renewables outlook.


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