Affin Bank promotes renewable energy via Affin Solar Financing-i

KUALA LUMPUR: Affin Bank Bhd and Affin Islamic Bank Bhd have launched AFFIN Solar Financing-i, a sustainable and personal financing plan for retail customers to purchase and install Solar Photovoltaic System (SPV) at residential and nonresidential properties.

The SPV System are solar panels that capture the energy of sunlight that is converted into electricity.

Affin Islamic Bank chief executive officer Nazlee Khalifah said the scheme offers a simple and easy way for home and building owners to lower their monthly electricity bills to reduce their carbon footprint and see a fast return on their investment.

"We are the only bank that offer this financing facility to new and existing customers. We believe there are high awareness and interests for renewable energy, and with AFFIN Solar Financing-i, our goal is to push for solar energy to be more accessible to Malaysians,” he told a press conference at the launch of AFFIN Solar Financing-i here today.

At the event, Nazlee exchanged a Memorandum of Understanding with key executives from eight solar panel companies, witnessed by Affin Islamic Bank interim chairman Musa Abdul Malek.

Among the solar panel companies are Dynamic EnergyTech Sdn Bhd, Gading Kencana Sdn Bhd and Verdant Solar Sdn Bhd.

Nazlee said AFFIN Solar Financing-i provides flexible financing tenure of up to 10 years ranging from RM20,000 to RM150,000, with various payment mode options.

Besides, he said AFFIN Solar Financing-i is one of the steps taken by the bank to increase the growth of renewable energy in the country in line with the government’s renewable energy aspiration and Renewable Energy Transition Roadmap (RETR) 2035.

"The aim is to provide the means needed for Malaysians to progress towards sustainable development.

"We believe this product will help in growing green economies and green societies in Malaysia,” he said, adding the bank was awarded the Sustainable Energy Financing Award by the Ministry of Energy and Natural Resources at the National Energy Awards 2020. - Bernama

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