(LANKAPUVATH | COLOMBO) – People’s Leasing & Finance PLC (PLC) has taken a significant step in promoting sustainable development and energy independence in Sri Lanka by partnering with Hayleys Solar to offer the market’s lowest interest rate for solar financing. This initiative aims to make solar energy more accessible and affordable for individuals and SMEs, providinga seamless experience for customers through a one-stop solution from loan approval to installation and beyond.
“The process is designed to be quick and accessible for maximum convenience and zero hassle!” saysMr Udesh Gunawardena – Acting CEO at PLC, discussing the rationale behind the partnership,“We’re combining our financial expertise with Hayleys Solar’s position as the leader in renewable energy. Leveraging our strong customer base, and their technical expertise, we aim to break down financial barriers and deliver a comprehensive solution that drives widespread adoption of solar energy in Sri Lanka, promoting sustainable development.”
The partnership is structured to maximise customer convenience and accessibility,according to Mr Gunawardena, “PLC is offering attractive lease terms and managing the financing process, while Hayleys Solar supplies and installs the solar systems, ensuring a seamless experience for customers, including maintenance and aftercare. For MSMEs, we are also able to provide financial advice and guidance on sustainable practices.”
Affordability is a key component of this initiative explained Mr Gunawardena, “We consistently provide the most competitive interest rates, usually the lowest in the market, making it more affordable. Our solar financing is also available for any system capacity, with savings growing proportionally with system size. This, together with the convenience of quick approvals and disbursement, distinguish our offerings from others. With our lease facilities, customers can enjoy affordable monthly lease instalments instead of paying high electricity bills. This is a saving in the long term for each customer. These savings can then be used for other productive purposes, instead of utility bills, to boost the economy.”
The tangible benefits for customers are numerous and significant, including unmatched convenience, no initial costs, free site visits, and consultations by skilled engineers. Most importantly, customers will have the reassurance of a 25-year performance warranty on solar products, backed by Hayleys – a company with a legacy of nearly 150 years. This financing option is, therefore, a genuine investment in a sustainable future and energy independence; both on the individual and national level.
In an effort to ensure maximum accessibility, PLC has made this facility available for all individuals over the age of 18. Mr Gunawardena added,“We have streamlined the application process to ensure ease and efficiency, with our representatives ready to guide applicants through every step.”
This initiative isalso about supporting broader environmental sustainability goals, emphasised Mr Gunawardena, stating that, “Transitioning to renewable energy contributes towards reduced carbon emissions and dependence on fossil fuels, making for a greener future. This initiative thus underscores our commitment to Environmental, Social, and Governance (ESG) principles, and to building an eco-conscious community that can generate sustainable economic growth over the long term.”
Additionally, investing in and promoting the utilisation of solar panels is helping both PLC and Hayleys Solar better align with the UN Sustainable Development Goals (SDGs). These include SDG 07 –Affordable and clean energy, SDG 08 –Decent work and economic growth, SDG 09 –Industry, innovation, and infrastructure, SDG 11 –Sustainable cities and communities, SDG 13 – Climate action, SDG 14 – Life below water, and SDG 15 –Life on land, thereby helping to usher in a more sustainable future.
For more information on how to get started with solar financing through PLC, call 0767 611 388 or email [email protected].
