Merchant Bank of Sri Lanka and Finance PLC (MBSL) has announced a strategic partnership with Hayleys Solar, the renewable energy arm of Hayleys Fentons, to introduce two innovative solar financing programs aimed at making solar power more accessible to individuals and businesses across Sri Lanka. This partnership, formalized through a Memorandum of Understanding (MoU), marks a significant step toward promoting sustainable energy solutions in the country.
Expanding Access to Solar Energy: New Loan Schemes
The collaboration between MBSL and Hayleys Solar has resulted in the creation of two distinct financing options: a personal solar loan scheme and a term loan specifically designed for businesses. These financial products are intended to make the adoption of solar energy more affordable and manageable for a broader segment of the population.
“We are happy to join hands with Hayleys Solar to launch these new solar loan schemes,” said Anura Perera, Chairman of MBSL. “This initiative will further enhance our portfolio and bring us closer to our long-term sustainability goals.”
The personal solar loan scheme is tailored for individual homeowners, offering them an affordable way to transition to solar energy. The term loan, on the other hand, is designed to meet the specific needs of businesses looking to reduce their carbon footprint and operational costs by adopting renewable energy sources. Both loan options come with competitive interest rates and flexible repayment terms, making them attractive choices for those looking to invest in solar power.
Empowering Consumers with Sustainable Energy Solutions
Hayleys Solar’s new initiative, ‘Nayak Nowena Nayak,’ is at the heart of this partnership. The program allows customers to pay a low monthly installment to the bank, which is less than their current monthly electricity bill. This innovative approach not only makes solar energy more accessible but also offers significant financial benefits to consumers.
“We believe that access to solar power should be available for everyone,” said Hasith Prematillake, Managing Director of Hayleys Fentons. “Our partnership with MBSL will support more individuals and businesses to experience the benefits of solar power.”
Under the ‘Nayak Nowena Nayak’ initiative, customers can enjoy the advantages of solar energy with minimal upfront costs. The savings generated after paying the monthly bank installment can be reinvested into their families’ futures, all while benefiting from free electricity for the next 20 years. This approach not only promotes environmental sustainability but also provides long-term financial security for households and businesses.
Driving Sustainable Growth and Innovation
The partnership between MBSL and Hayleys Solar is a significant move towards fostering sustainable growth in Sri Lanka. By offering accessible and affordable solar financing options, both companies are contributing to the country’s transition to renewable energy, reducing reliance on fossil fuels, and supporting national sustainability goals.
For individuals and businesses interested in these new solar loan schemes, MBSL can be contacted at 0114 711 711, and Hayleys Solar at 0112 102 102 for more information and to begin the application process.
Conclusion
The launch of these solar loan schemes represents a major advancement in making solar energy accessible to a wider audience in Sri Lanka. With the combined expertise of MBSL and Hayleys Solar, this initiative is poised to make a significant impact on the country’s renewable energy landscape, offering consumers an opportunity to reduce their energy costs, contribute to environmental sustainability, and secure a brighter future for the next generation.
