The government has launched tools to support energy: how to get a 0% loan for solar and wind power plants
22 July 2024 12:17
In Ukraine, government programs for interest-free lending to citizens, as well as the “Affordable loans 5-7-9” program for condominiums and condominiums for the purchase of equipment for generation from alternative energy sources and energy storage facilities, have become operational. This was reported by "Komersant Ukrainian" with reference to the Ministry of Economy.
In particular, a 0% preferential lending program is already in place for private households for the purchase of equipment and installation of solar panels with energy storage systems and wind turbines in their own households.
The state will fully compensate the interest rate on such loans for 10 years.
The amount of the loan can be up to 480 thousand hryvnias for the purchase and installation of a hybrid power supply system.
Credit products for citizens are already available in such banks as: JSC KB “PRIVATBANK”, JSC “OSHCADBANK”, JSC “UKRGAZBANK”, JSC “SENS BANK”, JSC “KB “GLOBUS”.
Who can get a loan at 0% for solar and wind power plants
Those wishing to receive such a loan must meet certain requirements:
not be a citizen of Russia;
not be under sanctions;
not to be criminally liable for crimes against national security;
not appear in bankruptcy or insolvency proceedings.
Oschadbank noted that in order to receive such a loan, the borrower must own land and a house with an area of no more than 250 square meters, and the average monthly income of the family must not exceed ten times the average salary in Ukraine.
New credit instruments for energy support for condominiums and condominiums
The second program provides an opportunity for associations of co-owners of multi-apartment buildings (OSBB) and housing and building cooperatives (HBC) to use the state support program “Affordable loans 5-7-9%”. From now on, within the framework of the program, it is possible to purchase and install generating units that produce electrical energy from alternative sources, as well as electrical energy storage units and auxiliary equipment.
The lending terms are as follows — the loan amount is up to UAH 5 million for a term of up to 5 years at 7% per annum. The program will work in combination with the “GreenDIM” program. Condominiums and condominiums within the framework of this program will be able to receive up to 70% of the cost of the project after its arrangement.
How to get “Available 5-7-9 loans” in condominiums or condominiums
In order to use the state preferential lending program “Affordable loans 5-7-9”, the management of a condominium or housing complex must submit an application to one of the 46 banks that cooperate with the Entrepreneurship Development Fund under the “Affordable loans 5-7-9” program and provide a package of necessary documents established by the bank.
Loan products for condominiums and condominiums are available at such banks as: JSC KB “GLOBUS”, JSC “SKY BANK”, JSC “OSCHADBANK”, PJSC “BANK VOSTOK”, JSC CB “PRIVATBANK”, JSC “SENS BANK”, AB “UKRGASBANK”
Every week, the network of authorized banks that will have the above credit products will expand.
The government also recently expanded the program “Affordable loans 5-7-9%” for businesses to restore energy capacities. Last week, Sense Bank issued the first loan for the purchase and installation of a solar power plant with a capacity of 1 MW by a Ukrainian manufacturer.
With these funds, the manufacturer will build a solar power plant with a capacity of 1 MW in the Chernivtsi region. For example, this electricity is enough to provide electricity for approximately 360 apartments. The annual generation of the station will be 1150 MW hours of electricity. The total amount of the loan is 14.2 million hryvnias. The repayment period is five years.
Ukrgasbank also issued the first investment loans to two producers from the Vinnytsia and Cherkasy regions for the purchase of cogeneration plants. The total capacity of the installations is 2.5 MW. Loans were granted under the state program “Affordable loans 5-7-9%” for a total amount of over UAH 26 million.
Also, from July 20, such an opportunity appeared for a business that wants to take a loan of more than UAH 150 million. In July, 19 of Ukraine’s largest banks united and signed a memorandum on preferential lending for energy infrastructure restoration projects.
You can apply at any of the partner banks. Such applications will be considered on a priority basis. Depending on the segment, the amount of the loan can range from EUR 500,000 to EUR 25 million. The term of the loan will be up to 5-7 years.
The base interest rate for loans in national currency within the base product for the first year is 13.5% per annum or UIRD3M+0.5%. And starting from the second year, it becomes floating, but not more than UIRD12M + 3%.
For energy restoration loans, the collateral will be the very equipment that the business buys. That greatly simplifies the process of obtaining a loan and makes it more accessible to more entrepreneurs.
