Gyeonggi-do Provides 'Energy Sector Loan Support' for Greenhouse Gas Reduction... Up to 290 Million KRW per Company

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province will provide low-interest loans of up to 290 million KRW to related businesses to reduce greenhouse gas emissions.

On the 4th, Gyeonggi Province announced that this year, as part of the energy sector loan support project including citizen participation in greenhouse gas reduction, it has finalized support for solar power generation projects under 200kW (cooperatives) and high-efficiency energy equipment installation projects, offering loans of up to 290 million KRW per business at an annual variable interest rate of 1.5%, with a 3-year grace period and 5-year equal installment repayment terms. However, companies that have already completed installation and are operating are excluded from support.

Marking the first year of carbon neutrality implementation, the province expanded the support target from 100kW to 200kW and increased the support ratio from 80% to 90% of the total project cost. Accordingly, the support amount increased by 90 million KRW compared to last year.

The province will accept applications until funds are exhausted. For more details, please check the announcement posts on the Gyeonggi Province website.

Choi Hye-min, head of the Climate Energy Policy Division of the province, emphasized, "The energy sector loan project is a greenhouse gas reduction encouragement policy that citizens can feel directly, and we plan to actively expand the support targets going forward," adding, "We will discover various green financial policies so that Gyeonggi Province can contribute to the energy transition."

The province has been conducting energy sector loan projects since 2018 and has supported 3.1 billion KRW to 35 companies up to last year.

This content was produced with the assistance of AI translation services.