The role of Islamic banks in financing renewable energy projects

Department of Finance & Banking Science, Irbid National University, Irbid, Jordan

^* Corresponding author: dribrhim@inu.edu.jo

Abstract

The main goal of the study is aimed at determining the role of Islamic banks in financing renewable energy projects. The relevance of the study is due to the need for sustainable economic development of the energy sector of the world economy. Increasing interest in the world in renewable energy sources and networks, which will reduce the energy dependence of countries and reduce consumer tensions, confirm the need for research. Trends in the development of the energy sector in the world are considered. The basic directions in the development of renewable energy projects are conceptualized. The specifics of financing and investment attractiveness of renewable energy projects are highlighted. The investment trends of Islamic banks in renewable energy investment projects are structured. The role of Islamic banks is structured and financial instruments are highlighted with an emphasis on investment direction in the field of renewable energy. The results of the study contain trends in the development of the global energy sector and a statement of the key role of Islamic banks in financing investment projects for the development of renewable energy sources, which can be applied in practice when studying finance and planning investments in the field of energy.