A system leveraging the concept of photosynthesis in plants (photovoltaic saturation), allowing the coexistence of solar power generation and farming with excess sunlight.
Any business intending to install renewable energy facilities
Ex) Installation financing for wind, solar, geothermal, and bio-energy facilities
* Solar projects are supported only for policy projects
Any business intending to install facilities to manufacture products or facilities for renewable energy
Ex) Installation costs for manufacturing facilities, such as solar module production lines or wind turbine production lines.
A financing program for (small and medium-sized) manufacturers of renewable energy-related products to secure their working capital or sufficient liquidity
- Applicant
- Bank
- New & Renewable Energy Center / Comprehensive Support Center
- New & Renewable Energy Center
New & Renewable Energy Center- New & Renewable Energy Center announces its business plan for the current year
- Financing is only supported for projects initiated (contracted) in the current year (including projects after October of the previous year)
New & Renewable Energy Center / Comprehensive Support Center- After the review process, applicants may be requested to submit additional documents or rejected when disqualified
- Evaluation starts once document review is completed
Applicant- Applicants shall submit their applications online (via the Korea Energy Agency or New & Renewable Energy Center websites)
- ‘Joint Certificate’ required for submitting online applications
- Recommendations for loans are provided based on the assessment results
- Recommendation letters can be printed after logging in online (application screen)
- Those recommended for financing shall visit the relevant financial institution and may apply for a loan based on the installation status of the facilities.
- Note, loans are made available only after the review of their collateral and approval from the financial institution
Bank- Applicant shall complete the first withdrawal (20% or more of the recommended amount) within 3 months of the issuance date of the recommendation letter.
- Approvals for recommendations will be automatically canceled if the first withdrawal is not executed
- The recommended amount shall be fully withdrawn by December 31 of the given year.
- By the end of the given year, the applicant business shall complete the withdrawal of funds based on the completion of the construction of the facility and submit a report on the constructed facility
- Funds not withdrawn within the year will become ineffective
- Once the final withdrawal is complete, check whether the recommended facility is installed at the designated location
- Any improper use of the financing loan shall be recovered by applying the overdue interest rate
Solar power facilities- Facilities for power generation and transmission or those for producing such facilities
- Bonds, stocks, funds, or other resident contributions to the village enterprise that participated in the development project
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