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.

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