10% discount to be availed when Hayleys Solar power systems are financed via Seylan Solar Loans

Seylan Bank has announced a partnership with Hayleys Solar, the country’s leading Solar Engineering, Procurement, and Construction (EPC) company. This collaboration aims to revolutionise access to sustainable energy solutions by offering customers an exclusive 10% discount on Hayleys Solar power systems when financed through Seylan Bank’s Solar Loan.

With the ever-increasing costs of electricity posing a challenge to households and businesses alike, this partnership highlights a commitment to providing accessible and affordable renewable energy solutions. Through the synergies between Seylan Bank’s financial expertise and Hayleys Solar’s industry-leading expertise in renewable energy, customers can now embark on their journey towards energy independence with greater ease and affordability.

This solar loan facility is tailored for permanent employees with a starting net salary of Rs. 200,000 and above. These interest rates are substantially lower than conventional personal loans. The Solar Loan features:

  • a flexible repayment period from 1 to 7 years
  • a starting interest rate of 11.5% for tenures of 1 to 3 years
  • and 12% for tenures starting from 4 to 5 years.

The solar power system itself serves as security against the loan, eliminating the need for additional collateral. Additionally, customers can expect quick loan approval within 2 days, ensuring a seamless process from application to installation. Moreover, customers utilising the Solar Loan Facility are eligible for income tax relief, further enhancing the financial benefits of transitioning to solar power.

Commenting on the collaboration, Eugene Seneviratne, Deputy General Manager- Retail Banking at Seylan Bank said. “Through our collaboration with Hayleys Solar, we have made sustainable home energy generation more accessible. While the benefits of solar power are clear for both the environment and savings on electricity bills, the high setup costs have been a barrier for many homeowners. This Solar Loan facility will empower eco-conscious homeowners to embrace solar power and embark on a journey of financial independence.

Roshane Perera, the Executive Director and CEO of Hayleys Solar, expressed, “We are optimistic about this partnership with Seylan Bank to promote renewable energy adoption in Sri Lanka. At Hayleys Solar, we are committed to providing innovative and sustainable energy solutions to meet the diverse needs of our customers. This partnership not only enhances accessibility to our high-quality solar power systems but also reinforces our shared vision of a greener and more sustainable future for Sri Lanka.”

Hayleys Solar has been a driving force in the nation’s renewable energy journey, having supplied over 200 MWp of rooftop solar power. Specialising in renewable energy solutions and energy storage systems, Hayleys Solar caters to diverse residential, commercial, and industrial needs. Their comprehensive services encompass end-to-end solar power services, including installation, after-sales services, and maintenance. For more information on the Solar Loan Facility please visit www.seylan.lk or dial 011 200 88 88.

In an alignment geared towards promoting sustainable energy adoption, People’s Bank and Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited, recently signed a Memorandum of Understanding (MoU). This collaborative effort aims to catalyse the widespread adoption of solar power by facilitating access to better financing options.

People’s Bank will provide loans to customers seeking to invest in rooftop solar power for their homes or businesses. These loans will empower individuals and enterprises to embrace solar power, thereby reducing their carbon footprint and contributing to a cleaner environment.

This new loan programme offers customers the opportunity to replace their hefty electricity bills with more affordable monthly loan instalments. This cost-saving option is available for all system capacities, with savings increasing proportionally to the system’s capacity. By opting for this program, customers can redirect their utility savings towards other essential expenses. Essentially, it’s a one-time investment that replaces a costly recurring expense with a more manageable one, leading to long-term savings.

The occasion was graced by Clive Fonseka, Chief Executive Officer/General Manager of People’s Bank; Hasith Prematillake, Managing Director of Hayleys Fentons Limited; Roshane Perera, Executive Director/CEO of Hayleys Solar; Pamudith Gunawardana, Finance Director of Hayleys Fentons Limited; Wickrama Narayana, Deputy General Manager (Enterprise Banking) of People’s Bank; T.M.W Chandrakumara, Deputy General Manager (Retail Banking) of People’s Bank; Kapila Jayaratne, Assistant General Manager Channel Sales (Banking Solutions) of Hayleys Solar; Srilak Sandaruwan, Assistant Channel Sales Manager; Chaminda Ihalakorala, Assistant General Manager (SME, Development and Micro Finance); Chamari Perera, Senior Manager (SME); and Chamedi Gunathilake, Deputy Manager of People’s Bank.

The collaboration between People’s Bank and Hayleys Solar marks a pivotal step towards achieving Sri Lanka’s renewable energy goals while fostering economic development. As the nation continues to prioritise environmental conservation and energy security, initiatives like this play a crucial role in driving the transition towards energy independence and a more sustainable future.

Hayleys Solar, the renewable energy arm of Hayleys Fentons, has successfully completed an impressive 2.3MW capacity solar power installation for Texlan Centre Pvt Ltd, a leading hosiery manufacturer and exporter in the country.

The grid-tied rooftop solar power system constructed on the rooftop of Texlan’s manufacturing facility in Minuwangoda has a capacity of 2,343kWp. This corresponds to a planned 63,539,152kWh of clean energy generated over a 20-year span. This will cover an estimated 32% of Texlan’s energy needs, minimising the company’s reliance on conventional grid power while lowering operational costs. This will help to reduce 46,370 tons of greenhouse gas emissions over the project period.

“Sustainability is a core value at Texlan,” said Muhammed Latif, Managing Director for Texlan Centre Pvt. Ltd. “This solar installation represents a significant step forward in our efforts to reduce the environmental impact of our business and ensure long-term responsible manufacturing practices. We’re excited to bring forth this commitment to clean energy in Sri Lanka with Hayleys Solar as our partner.”

“Our partnership with Texlan encourages them to do their part for the environment and sets a new benchmark for large-scale solar projects in the country,” said Hasith Prematillake, Managing Director of Hayleys Fentons Limited.

Commenting on this initiative, Roshane Perera, Executive Director and CEO of Hayleys Solar states, “Our strength in design engineering, logistics and installation was the key to completing this project, which showcases Hayleys Solar’s expertise in delivering large-scale, impactful clean energy solutions in a timely manner. ”

Texlan’s decision to adopt solar power, facilitated by Hayleys Solar’s expertise, reflects a growing trend within Sri Lanka’s manufacturing sector, of adopting clean energy and taking accountability for the environment.

Driving the adoption of green energy practices across the country, Hayleys Solar, the renewable energy arm of Hayleys Fentons has entered into an agreement with the Bank of Ceylon (BOC) to provide low-interest loans for both residential and commercial customers in a bid to encourage them to make the transition to renewable energy.

Customers can take advantage of the partnerships’ exceptional financial schemes, which offer loan plans with the lowest interest rates in the market with a 7-year repayment period. The rates are as follows:

  • Residential Customers – 10% interest for up to Rs. 3 million
  • Commercial Customers -10% interest for the maximum loan amount up to Rs. 5 million, 11% interest for Rs. 5-10 million and 12.5% interest for Rs. 10 to 50 million.

Even after paying the loan instalment, customers can save Rs. 45,000 upwards monthly with a 10kW system or exceed Rs. 75,000 with a 15kW system. For larger households and businesses, a 20kW system translates to monthly savings exceeding Rs. 100,000 after the loan payment. Larger capacity translates to larger savings over and above the loan instalment, which makes these financing options highly affordable.

Customers can enjoy substantial monthly savings based on their chosen system capacity.  As explained in the table, as the system size grows, so do the savings:

Hasith Prematillake, Managing Director of Hayleys Fentons, commented on the collaboration, saying, “We are proud to champion Sri Lanka’s solar industry and to inspire more people to commit to an eco-friendly and greener future. Hayleys Solar, a trusted brand and household name, is leading the way in partnership with Bank of Ceylon to make solar power more affordable.”

Mr. G. A. Jayashantha, DGM for International, Treasury and Investment of BOC added, “BOC is pleased to provide financial assistance to customers wishing to adopt solar power as it reflects our responsibility as a corporation that nurtures the environment by promoting renewable energy sources in partnership with Sri Lanka’s leading solar energy provider, Hayleys Solar.”

Hayleys Solar has played a leading role in the nation’s renewable energy drive, supplying over 200MWp of rooftop solar power. Specialising in end-to-end solar power solutions, the company offers island-wide installation, after-sales services, and maintenance for a range of domestic, SME, commercial, and industrial needs.

Roshane Perera, Executive Director and CEO of Hayleys Solar added, “The energy crisis faced several years ago in Sri Lanka drives home the urgency of expanding into renewable energy. At Hayleys Solar we have taken steps to make solar energy affordable while fostering environmental sustainability. Our efforts include strategic partnerships with large banking institutions such as Bank of Ceylon for the benefit of its large customer base.”

Hayleys Solar, the renewable energy arm of Hayleys Fentons, has opened doors to two new Experience Centres in Negombo (669, Puttalam – Colombo Rd) and Kandy (No 465/A, William Gopallawa Mawatha) respectively, bringing their total to four across Sri Lanka. These new centres offer residents a one-stop shop to explore solar energy solutions.

Hayleys Solar Experience Centres provide a comprehensive range of world-class solar products, including rooftop PV systems, batteries, and inverters. Visitors can also witness live demonstrations of solar-powered water pumps, solar-powered hot water systems, lighting systems, and PV systems in action.

Hayleys Solar is committed to providing accessible renewable energy solutions across the country. Hasith Prematillake, Managing Director of Hayleys Fentons Limited, said, “We are proud to expand our network and reach even more Sri Lankan families nationwide.” Roshane Perera, the Executive Director and CEO of Hayleys Solar, adds, “Our centres, located in Matara, Jaffna, Negombo, and Kandy are staffed by qualified experts who can help you understand your energy needs. We welcome you to visit our experience centres and explore solar products best suited for you.”

Embarking on a bold journey toward sustainable energy solutions, People’s Leasing & Finance PLC (PLC) and Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited have officially forged a groundbreaking alliance, through a Memorandum of Understanding (MoU), to offer an easy and affordable financing scheme for households and Micro, Small & Medium Enterprises (MSMEs) in the rooftop solar segment. This scheme will empower Sri Lankans to adopt renewable energy for their daily consumption and businesses, promoting a greener tomorrow.

The lack of easy and affordable financing has been a barrier to the usage of solar by households and small businesses in the country. In order to address this challenge, Hayleys Solar and PLC have joined hands to design a unique solar financing solution for these customers, helping them switch to solar without any collateral at a very attractive interest rate. For increased convenience and accessibility, the scheme also provides a quick sanction and disbursement process. This financing scheme is provided exclusively for customers of PLC for off-grid, on-grid, and hybrid connections and other solar solutions such as solar water heaters and solar water pumps.

Under this strategic partnership, PLC and Hayleys Solar will encourage solar energy adoption among MSMEs by offering personalised, innovative financing solutions through PLC’s customised Lease Scheme. The PLC solar financing scheme offers customers an array of compelling benefits, including the most competitive interest rates and lease limit to meet the requirements of the MSME sector. This financial support is strategically placed to kick-start the widespread use of solar energy solutions, making it available to a broad range of people.

Commenting, Udesh Gunawardena, Chief Executive Officer/General Manager at PLC said, “MSMEs are the backbone of the country’s economy. They operate across industrial segments and are major consumers of electricity. Our strategic collaboration with Hayleys Solar will facilitate ‘ease of opting’ for renewable energy in the MSME sector and power its quest to become more efficient and globally competitive. I urge everyone to make the most of this opportunity and play a pivotal role in building a greener and more sustainable business ecosystem in the country.”

The financial support provided by PLC is strategically tailored to integrate sustainability seamlessly across all aspects of business operations. This eco-conscious initiative effortlessly weaves into PLC’s established sustainability framework, vividly showcasing its unwavering commitment to Environmental, Social, and Governance (ESG) principles. With a dedicated focus on promoting solar energy, PLC actively addresses environmental challenges, contributing to a significant reduction in carbon emissions and fostering a more vibrant, sustainable environment.

Additionally, Hayleys Solar, the no.1 solar provider in Sri Lanka, will join forces with PLC to offer numerous benefits on its wide range of solar products, giving PLC customers a unique advantage. This collaboration between two industry leaders highlights a strong shared commitment to not just accept but promote sustainable living, encouraging consumers to embrace renewable energy.

Hasith Prematillake – Managing Director of Hayleys Fentons Limited added, “As the leading Solar EPC company in Sri Lanka, we are pleased to enter into this partnership with People’s Leasing and Finance PLC, one of the leading nonbank financial institutions. Working together, we look forward to powering a brighter and greener, sustainable future for all Sri Lankans, driven by renewable energy and innovation.” 

The partnership was made official with the signing of a Memorandum of Understanding (MoU) between the two companies.

When choosing to obtain solar power installations from Hayleys Solar through PLC, customers benefit from free site visits and consultations carried out by highly experienced and skilled engineers. Furthermore, customers will also enjoy the best after-sales experience, backed by a 20-year performance warranty from one of the pioneers of solar power in Sri Lanka.

Hayleys Solar, a leading provider of solar energy solutions in Sri Lanka, is proud to announce its role as the Platinum Sponsor of the historic 90th ‘Battle of the Saints’ and the 50th Joe-Pete Limited Over Encounter. This prestigious event between St. Joseph’s College and St. Peter’s College, Colombo marks a significant milestone in Sri Lanka’s schools’ cricketing history.

The two-day cricket encounter, known for its exhilarating and competitive spirit, will be held at the prestigious Singhalese Sports Club (SSC) grounds on March 22nd and 23rd, 2024 for the ‘Battle of the Saints’, and April 6th, 2024 for the limited-over encounter.

Hayleys Solar is committed to supporting the development of sports in Sri Lanka, particularly at the school level. This event is a testament to the rich cricketing tradition of Sri Lanka, and we are proud to play a role in its continued success”, said Roshane Perera, Executive Director and CEO of Hayleys Solar.

The ‘Joe Pete encounter’ series is expected to attract a large audience of cricket fans, both locally and internationally. Hayleys Solar is confident that the 90th ‘Battle of the Saints’ and 50th Joe-Pete Limited Over Encounter will be a thrilling and memorable event.

To ease financial pressures on society and champion clean energy practices, Seylan Credit Cards and Hayleys Solar announced the extension of their successful partnership.

The extended collaboration aims to provide customers with Easy Payment Plans when purchasing Solar Power Units from Hayleys Solar, Sri Lanka’s No 01, the largest and most trusted Solar Provider, using Seylan Credit Cards.

Amidst rising electricity costs and a growing demand for sustainable energy solutions, Seylan Bank recognizes the importance of supporting customers in their transition to renewable energy sources. The Easy Payment Plans, available at 0% interest now offer unmatched flexible installment options for 3, 6, 12, 24, 36, 48, and even 60 months – allowing customers to convert payments of up to Rs. 3 million into a manageable plan.

Consumers can enjoy an array of potential monthly savings based on chosen system capacity. With a 3kW system, customers can save over Rs. 5,700 monthly. Upgrading to a 5kW single-phase system can bring savings exceeding Rs. 18,700. Opting for the 5kW three-phase version allows a saving of nearly Rs. 15,000 each month. As the system grows, so do savings -a 6kW system translates to monthly savings of over Rs. 25,000, while an 8kW system increases to nearly Rs. 36,000.

Consumers can save upwards of Rs. 50,000 monthly with a 10kW system or exceed Rs. 90,000 with a 15kW system. For larger households and businesses, a 20kW system will translate to monthly savings exceeding Rs. 127,000.

Seylan Credit Cards acknowledges the shift to Solar Power as an essential requirement in the current context. This initiative aligns with the bank’s commitment to identify and cater to the genuine needs of its customers, ensuring a sustainable and cost-effective approach to maintain their living standards.

Ruchith Liyanage, Head of Cards at Seylan Bank, commented on the extended partnership, stating, “We are delighted to continue our collaboration with Hayleys Solar, the leading player in Sri Lanka’s renewable energy sector. This strategic partnership not only reinforces Seylan Credit Cards’ commitment to provide financial assistance but also reflects our responsibility as a corporate that nurtures the environment by promoting renewable energy sources.”

Roshane Perera, Executive Director and CEO of Hayleys Solar expressed, “As the leading EPC company in Sri Lanka, we are delighted to announce the expansion of our successful partnership with Seylan Bank. Together, we stand at the forefront of driving innovation and sustainability in the energy sector, forging a path towards a future powered by renewable resources. With this collaboration, we look forward to the positive impact our joint efforts will have on creating a greener, more resilient, and thriving tomorrow for generations to come.”

Hayleys Solar has played a pivotal role in the nation’s renewable energy drive, supplying over 200MWp of rooftop solar power. Specializing in end-to-end solar power solutions, the company offers island-wide installation, after-sales services, and maintenance for diverse domestic, SMEs, commercial, and industrial needs. Their solar power grids start at an affordable Rs.540,000.

The extended partnership between Seylan Bank and Hayleys Solar exemplifies the synergy between two corporate entities committed to fostering environmental sustainability. By facilitating the transition to renewable energy, Seylan Credit Cards aims to provide long-term benefits to customers, not only in terms of financial savings but also in contributing to a greener and energy- independent future.

To take advantage of this exclusive offer, customers can reach out to Hayleys Solar via their hotline – 0112 102 102 or drop by at any of their Hayleys Solar Experience Centers located in Matara, Jaffna, Nawala, Kurunegala and Katunayake for an in-person consultation. Interested parties can visit the nearest Seylan Bank branch to learn more about the available attractive solar financing options.

Hayleys Solar, the pioneering force in Sri Lanka’s solar energy landscape, has unveiled Solar Powered Water Heaters to the local market.

Commenting on the launch, Hasith Prematillake, Managing Director of Hayleys Fentons, states, “We aim to make renewable energy solutions accessible but also rewarding for every Sri Lankan household. With this product offering, we will continue to develop the hot water systems market by offering energy-efficient solutions that leverage the power of the sun”.

The Solar Powered Water Heaters, available in both Pressure and Non-Pressure variants, are a step towards eco-conscious living. These systems come in various tank capacities—100L, 150L, 200L, and 300L—tailored to suit diverse household needs. Crafted with a durable stainless-steel tank and equipped with higher efficiency vacuum tubes that can consecutively retain heat for up to 3 days.

Hot water systems, while affordable upfront, can increase monthly electricity bills. However, for a 4-person household, the cost savings from reduced hot water usage can help ease the pressures of increased electricity cost with a payback period of 2 years. The system offers a 10-year warranty, providing peace of mind for long-term use.

Roshane Perera, Executive Director and CEO of Hayleys Solar, emphasized the benefits of the solar powered water heater, stating, “We have solar powered water heater systems that are ideal for commercial, industrial and household appliances and we understand that each hot water system requirement is unique. Specifically, the pressure type Solar hot water system is compatible with any location, irrespective of the water pressure required.

“Customer service and speed of installation is paramount. With island-wide sales and technical support, customers can seamlessly access this system along with the expertise needed for installation and maintenance.”

 

“Soorya Sathkara” An Initiative Empowering 200 Care Homes

Hayleys Solar, the premier renewable energy arm of Hayleys Fentons, a subsidiary of the country’s leading conglomerate Hayleys Group, proudly announces a significant milestone of achieving a staggering 200MWp rooftop solar PV capacity in Sri Lanka. This remarkable accomplishment stands as the largest of its kind carried out by a single entity in the nation, marking a momentous stride towards driving the country’s progress with sustainable and clean renewable energy solutions.

Surpassing the 200MWp mark, Hayleys Solar has not only set a record but has also contributed immensely towards the country’s total installed solar capacity, which currently stands at 900MWp. The 200MWp of solar capacity installed by Hayleys Solar is estimated to save an impressive 202,446,520 kg of carbon dioxide (CO2) emissions annually, underlining the company’s commitment to environmental sustainability.

In celebration of this tremendous feat, Hayleys Solar is embarking on a groundbreaking CSR initiative titled “Soorya Sathkara,”- an innovative Corporate Social Responsibility (CSR) initiative aimed at “Bringing Light & Transforming Lives” across Sri Lanka. Under the visionary leadership of Mr. Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC, “Soorya Sathkara” sets out to illuminate the lives of residents in 200 Children’s Homes, Elderly Homes, and Special Needs Care Centers spanning the length and breadth of the island.

“Hayleys Fentons has a long history of fostering positive change in Sri Lanka,” says Hasith Prematillake, Managing Director of Hayleys Fentons. “Embedded in the Hayleys ethos is a commitment to ESG principles, focusing on improving lives and caring for people. Empowered by the aspirations of the Hayleys Lifecode, the ESG roadmap of the Hayleys Group, we introduce ‘Soorya Sathkara,’ a CSR initiative of unprecedented nature and capacity. We expect that this will not only provide these vital institutions with sustainable energy solutions, but also empower them to redirect significant savings towards the essential needs of their residents.”

Roshane Perera, the Executive Director, and CEO of Hayleys Solar expressed great pride in inaugurating the ‘Soorya Sathkara’ initiative, emphasizing the company’s unwavering commitment to a focused Corporate Social Responsibility (CSR) programme. This initiative is aimed at extending the advantages of Solar Energy to deserving communities across Sri Lanka. “Exceeding the 200MWp milestone reflects our collective mission to enlighten communities and foster transformative changes that will benefit generations to come.”

A key aspect of Hayleys Solar’s success has been its widespread engagement across various sectors. Hayleys Solar’s unparalleled achievement of 200MWp rooftop solar PV capacity reflects its steadfast commitment to excellence and innovation. With a diverse clientele that includes renowned organizations and thousands of households across the island, Hayleys Solar stands as the foremost choice for reliable solar solutions.

In addition to its commitment to quality, Hayleys Solar emphasizes supplier credibility by partnering with top-tier 1 solar suppliers globally, listed on Bloomberg. The company also collaborates closely with financial partners to ensure the affordability and accessibility of solar solutions to a wider audience.

From rooftop PV systems to batteries and inverters, Hayleys Solar offers a comprehensive range of applications, with live demonstrations of Solar-powered Water Pumps, Lighting systems, and Solar Powered Hot Water Systems. This diverse portfolio, coupled with the brand heritage of Hayleys Fentons and the Hayleys Group, reinforces the company’s position as the leading solar provider in Sri Lanka.

Building upon the strong heritage of Hayleys Fentons and the Hayleys Group, Sri Lanka’s leading conglomerate, Hayleys Solar remains committed to pioneering solar progress in the country. The recent milestone of 200MWp capacity installation is a testament to the company’s vision of a sustainable and brighter future powered by solar energy.

Elderly Homes, Children’s Homes, and Special Care Centres interested in being part of the ‘Soorya Sathkara’ initiative are invited to contact 0112 102 102 or visit www.hayleyssolar.com for further details. We hope that by being a part of the 200 institutions that will be powered via ‘Soorya Sathkara’,  these institutions will not only be able to illuminate their spaces with clean energy but also pave the path towards a brighter and more sustainable future for their residents, powered Hayleys Solar – Sri Lanka’s largest and most trusted solar provider.”

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