[Gyeonggi] Gyeonggi-do Provincial Government Cuts Interest Rate to 1.8% for Financing Renewable Energy Installation

Gyeonggi-do Province has significantly lowered the interest rate of its renewable energy loan support project to 1.8%.

The province said it will provide loans up to 85% of the installation funds if solar power plants under 500 kW are installed or small and medium-sized companies install energy efficiency facilities, and the interest rate will be drastically reduced from 3.0% to 1.8%.

The loan period is eight years (five-year equal installment repayment with a three-year grace period), and in the case of solar power plants, the standard for construction has been expanded from January 1 this year to October 1 last year, increasing the number of support targets.

is carrying out a new and renewable energy financial support project worth 67 billion won using the provincial budget and bank funds to achieve 'Gyeonggi RE100'.