SUNREF is a facilitation program for funding renewable energy and energy efficiency projects.

Bank of Palestine is a major partner with the French Agency for Development, which initiated the program and developed it in various countries around the world, including Palestine.

SUNREF provides funding for individual customers, owners of small and medium-sized enterprise and companies who develop renewable energy and energy efficiency projects and also provides technical support to project owners.

Program Features:

  • The program targets all customers, from individuals to owners of small and medium-sized enterprise and companies.
  • Available funding for a single project is up to five million EUROS.
  • The monthly payment plan is divided between 48 to 122 payments, with the possibility of a grace period of up to 12 months upon the distribution of funds.
  • The funding amount is determined in accordance with the nature of the project, whereby the contribution of the beneficiary may be between 15% to 30%.
  • The change for obtaining a grant for the entire amount of funding from the European Union is between 15% to 30%, upon completion of the project.

 

Required Documents: (depending on the project nature)

  • A feasibility study based on the nature of the project during the entire funding cycle.
  • Project technical study and description.
  • Credit application to obtain funding from the bank. Filled out by the beneficiary in coordination with a bank employee.
  • Approvals from related entities, depending on the project nature and size.
  • Execution agreements and price offers for required equipment, based on the nature of the project.