Saudi Arabia starts offering loans to develop renewable energy

Saudi Industrial Development Fund (SIDF) will start offering loans for renewable energy projects and manufacturers.  The SIDF 105-billion riyal (28 billion USD) opened on September 30th is intended to accelerate the Kingdom's 2030 commitment to renewable energy as well as the diversification of the economy.  The loans will have a maximum repayment period of 20 years and will cover up to 75% of the project.  Three main categories are considered by the fund:

• Financing renewable energy components manufacturing
• Financing independent renewable energy production projects
• Financing renewable energy production projects for the industrial, commercial and other sectors

For more details: Bloomberg, Arabianbusiness, SIDF