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.