Renewable Energy Financing (Green Finance Solutions)

Rowwad Foundation offers dedicated financing solutions for renewable energy projects (green financing) designed specifically for small-scale enterprises, in support of sustainable development goals and the transition toward clean and renewable energy. Through flexible and tailored financial services, we, at Rowwad, aim to meet the needs of both existing and prospective clients via accessible financing channels, while expanding financing opportunities for citizens seeking to install solar energy systems.

In pursuit of the said objectives, an environmentally sustainable financing product has been introduced to promote renewable energy utilization and energy efficiency through the installation of solar photovoltaic systems, in recognition of their positive environmental contribution.

Renewable Energy Financing Key Features

• Competitive interest rate.
• Financing up to USD 50,000.
• Flexible collateral requirements with convenient repayment terms.
• Dual financing options: conventional and Islamic.
• Grace period of up to three (3) months.
• Fast-track financing approval procedures.

Renewable Energy Financing Eligibility Requirements:

•  Borrower's valid ID.
• Completed Credit Application Form (CAF).
• Electricity bill in the name of the applicant/project.
• Borrower's proof of income.
• Borrower's income analysis statement.
• Detailed quotation for the solar PV system, including specifications and total cost.
• Implementation agreement with the service provider (if applicable).
• Required approvals from the electricity company and/or competent authorities.
• For rented properties: a No Objection Letter (NOC) from the owner/lessor.

Collateral / Guarantees
Rowwad accepts a diversified range of collateral and guarantee instruments, subject to the borrower’s repayment capacity, including but not limited to:

• Post-dated cheques / monthly promissory instalments aligned with the financing/loan repayment schedule (As per Rowwad’s policy).
• Financing / loan agreement.
• Duly executed promissory note (debt instrument).
• Personal guarantees (sureties).
• Gold pledge as collateral security.
• Any other acceptable forms of collateral.
   

*The product is subject to terms and conditions.