PLC and Hayleys Solar partner to make solar power accessible to all

PLC Chairman Pradeep Amirthanayagam (third from right) and Hayleys Fentons Managing Director Hasith Prematillake (right) handing over the first Solar lease to the customer

Embarking on a bold journey toward sustainable energy solutions, People’s Leasing & Finance PLC and Hayleys Solar, the renewable energy arm of Hayleys Fentons Ltd., have officially forged a ground-breaking 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.

PLC Acting CEO /General Manager Udesh Gunawardena 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.

Hayleys Fentons Managing Director Hasith Prematillake said, “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.