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.”
To take advantage of this exclusive offer, customers can reach out to Hayleys Solar via their Hotline – 0112 102 102, Website: www.hayleyssolar.com or visit any of Hayleys Solar Experience Centres located in Matara, Jaffna, Negombo and Kandy for consultations in-person.
About Hayleys Solar
Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited predominantly focuses on Solar PV installations for the domestic, commercial, and industrial market segments as well as utility-scale projects to enable greater utilisation of sustainable energy resources in the country. Hayleys Solar has completed over 200MWp of solar installations island-wide making it the undisputed leader in Engineering, Procurement, and Construction (EPC) company in Sri Lanka.
About Bank of Ceylon
For over 84 years, Bank of Ceylon has been a cornerstone of Sri Lanka’s financial landscape, connecting individuals and businesses to global opportunities. With over 2,000 touch points spread across the nation, BOC operates 653 branches connected online and an ATM/CDM/CRM network of over 1,350 located across the island, coupled with cutting-edge technologies, ensures that the bank’s customers have convenient access to a wide range of financial services. Leading the Sri Lankan banking industry, moreover, BOC was ranked as the only Sri Lankan Bank among the Top 1000 World Banks 2023 and the Banker of the Year 2023 by The Banker Magazine UK. BOC was also awarded as the Number 1 Banking Brand in Sri Lanka by Brand Finance Lanka.
Internationally, the Bank of Ceylon has established a strong presence with branches in key locations such as London, UK; Male and Hulhumalé in the Maldives; Chennai, India; and the Seychelles. As the premier financial institution in Sri Lanka, the Bank of Ceylon remains dedicated to driving growth, prosperity, and financial inclusion for all citizens, solidifying its position as the leading bank in the country.
