SUNREF Palestine TM

SUNREF Palestine provides long-term affordable financing through loans at market rates up to €5 million combined with investment grants of 15-30% for renewable energy, energy efficiency, and environmental projects in Palestine, working with partner banks and technical assistance providers to develop a green investment market and enhance local bank capacity through a portfolio of over 150 approved projects totaling €32.9 million in investments.

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SUNREF Palestine TM

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EngSafwanQadous

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www.sunref.

org
SUNREF PALESTINE
MARKO MARKOV
AEE PALESTINE, 18 MAY 2020
What is SUNREF Palestine?
Newest member of the international SUNREF family
Efficient synergy of three components:
Credit line
Investment grant
Technical assistance
Partnership between AFD, EU and PENRA
TA services available at no cost to partner banks/end users
SUNREF Palestine - Partners
Institutional partners:

Partner banks:

TA providers:
SUNREF Palestine Objectives
Mature “green” investment market in Palestine

Long term affordable financing

Enhance the capacity of the local banks

Raise the overall awareness

Who can benefit from SUNREF Palestine?

Palestinian individuals and households

Private Palestinian companies – MSME and Large

Public Palestinian companies operating under free market conditions

Local Energy Performance Contractors and Leasing Companies*

What can be financed?
Renewable energy projects:
Solar
Wind
Biogas & Biomass
Geothermal
Energy Efficiency projects:
Building retrofit
Replacement and modernization of industrial and agricultural machinery
Environment improvement projects
Are the financing conditions
favourable?
Loan features SUNREF Terms and Conditions (indicative)
Loan duration min. 4 years – up to 10 years

Grace period (on principal) up to 3 years

Maximum loan amount up to EUR 5 million

Loan pricing at or lower than prevailing market rates

Repayment schedule Flexible to match project`s cash flow specifics

Investment grant 15% to 30% of loan amount

SUNREF Palestine Investment
Grant
Upon project completion and verification:
Type of project Location Maximum grant (% of the loan)

Utility scale RE projects West Bank and East Jerusalem 15%

Net metering and Off-grid RE West Bank and East Jerusalem 20%
projects
Energy Efficiency projects West Bank and East Jerusalem 20%
(business only)
All eligible projects (EE, RE, Gaza strip 30%
Environmental)
Environment improvement (water West Bank, Gaza, East Jerusalem 30%
efficiency, pollution abatement,
etc.)
EE projects in residential/retail segment are not eligible for grant support
LEME vs Non-LEME projects
LEME – a standardized approach:
Technically simple
Small scale projects (up to EUR 200,000)
Automated eligibility check and approval
Non-LEME projects
Larger scale projects (over EUR 200,000)
Complex technology solutions
Require separate technical assessment by the TA
How it works

Verification
Project
implementation
Financial
assessment
Technical evaluation

Project identification and

application
SUNREF Palestine achievements
SUNREF Portfolio overview:
A total of 152 projects technically approved
Total investment value of approved projects – EUR 32.9 million
Total loan amount of approved projects: EUR 23.2 million (EUR 9.7 is the expected equity
contribution)
Total grant amount for approved projects: EUR 4.47 million
SUNREF Palestine portfolio of technically approved projects (EUR million)

2.5

2 3

1.5 2

1
0 0
0.5

0
SUNREF Palestine achievements
SUNREF Portfolio breakdown:
84 of all technically approved projects are owned by Palestinian private individuals and households; 61 are SME owned projects and 7
Large corporates

Portfolio by type of client Portfolio by project type

140 140

120 120

100 100

80 80

60 60

40 40

20 20

0 0
RE Net metering RE PPA/Off grid Energy Efficiency RE Net metering RE PPA/Off grid Energy Efficiency Environmental

Projects number Loan amount (EUR mio) Projects number Loan amount (EUR mio)

Vast majority are RE – net metering projects: 122 out of 152; 2 projects are environmental; 3 are EE; 11 projects are
RE on PPA basis and 14 projects are Off grid RE
SUNREF Study Fund
EUR 500,000 available to help project owners develop high-quality
feasibility studies
Supports projects aiming at same goals as SUNREF
Supported project expected investment cost should exceed EUR
200,000
Project owner to contribute 50% of the feasibility cost
The Study fund to provide up to EUR 100,000 per project
THANK YOU!!!

Marko Markov
Deputy team leader
SUNREF Palestine TA team
[email protected]