Businesses looking for a viable alternative to electricity from the national grid have been provided an opportunity to invest in solar power as a result of a collaboration between the Commercial Bank of Ceylon and Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited.

A memorandum of understanding (MoU) signed by the two organisations commits the Commercial Bank to offer concessionary terms under the Bank’s ‘Diribala Green Development Loan’ scheme for businesses to purchase solar power systems from Hayleys Solar with a number of exclusive benefits.

Commercial Bank and Hayleys Solar will offer loans during the promotional period with a 1% lower interest rate than the Published rate for Diribala Green Development Loans, along with a 10% Cash Back on the purchase value to the loan accounts of buyers, potentially aiding in the settlement of loan installments and easing the investment burden on customers’ cash flow.

Commercial Bank’s Diribala Green Development Loans of ranging up to Rs 250 million are available to individuals engaged in business activities, to proprietorships, partnerships and to limited liability companies in all business sectors. The loans are provided for rooftop solar power panel installations at business premises, for commercial-scale rooftop solar power projects, and for installation of solar panels at residences in the case of SMEs.

Hayleys Solar, the no.1 Solar EPC company in Sri Lanka, has played a significant role in the nation’s renewable energy drive, supplying over 150 MWp of rooftop solar power. The company specializes in renewable energy solutions and energy storage systems for diverse domestic, SMEs, commercial, and industrial needs. Their services span end-to-end solar power solutions, encompassing installation, after-sales services, and maintenance.

Sri Lanka’s first 100% carbon neutral bank and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World, Commercial Bank operates a network of 271 branches and 964 automated machines in Sri Lanka. Commercial Bank is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector. The Group’s overseas operations encompass Bangladesh, where the Bank operates 20 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.

Wins Bronze in ‘Green Brand of the Year’ and Merit for ‘Best New Entrant’ 2023

Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited, proudly clinched two coveted awards at the prestigious Brand Excellence Awards, organised by the Sri Lanka Institute of Marketing (SLIM) to honour exceptional marketing efforts and outstanding brand stories.

Hayleys Solar won the Bronze Award for Green Brand of the Year which recognises Hayleys Solar’s green energy revolution, in a competitive category spanning the strongest local and multinational brands in the country. Hayleys Solar also won the Merit Award for Best New Entrant Brand of the Year which highlights the brand’s impressive strides in the renewable energy sector, being able to meet the pressing needs of homeowners in Sri Lanka.

The “green vision” for Hayleys Solar is to be the leader in accelerating the adoption of solar power in Sri Lanka, to conserve our environment and to provide an environmentally friendly, sustainable and hassle-free power supply to all. These awards are a testament to Hayleys Solar’s brand strategy and actions to connect with the consumers as Sri Lanka’s No.1, the largest and most trusted solar provider.

Drawing strength from the long-standing legacy and reputation of the Hayleys Group, Hayleys Solar leverages the conglomerate’s rich expertise, historically sustainable and eco-friendly business portfolio and commitment to excellence, further solidifying its leadership position.

Hasith Prematillake, the Managing Director of Hayleys Fentons Limited stated, “Hayleys Solar’s victory in 2023 is a testament to our brand’s transformative journey over the years and its alignment with Sri Lanka’s green energy transition. This double victory underscores our commitment to not only providing sustainable solutions but also our efforts to foster a customer-focused brand, geared towards exceptional service to our customers.”

“We are ready and eager to continue supporting individuals and businesses to transition to clean energy”, stated Roshane Perera, the Executive Director and CEO of Hayleys Solar. “These awards are a powerful validation of our commitment to sustainability and innovation. We are driven by our purpose of driving sustainable and innovative engineering services for a better life to make a positive impact on the environment, and these awards motivate us to continue pushing boundaries and setting new standards in the renewable energy industry.”

Commenting on this momentous win, Nanduni Dahanayaka, Manager Marketing of Hayleys Fentons Limited stated: “These wins serve as motivation for us to continue strengthening our connection and our communication with our stakeholders.  As the No.1 solar provider in Sri Lanka, our brand promise is to “Live a life full of light” with Hayleys Solar. This was our backbone for creating impactful, timely and inclusive campaigns that reached the entire country, supported by our brand heritage, expertise, and steady commitment to delivering superior value to our customers.”

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