Solarvest launches Powervest solar financing

KUALA LUMPUR: Clean energy specialist, Solarvest Holdings Bhd has launched its new solar financing programme, Powervest, to promote the adoption of renewable energy among businesses in Malaysia.

Group chief executive officer, Davis Chong Chun Shiong said the programme comprises two competitive financial models, Powerflex and Powerlease, targeted at commercial and industrial users with different financing needs.

“The launch of Powervest is in line with our efforts to make clean energy more convenient, affordable and accessible.

“While we recognise that there is not a one-size-fits-all solution when it comes to solar photovoltaic (PV) system investment, we are offering a financing solution that we believe is comprehensive enough to meet the different financing needs of our potential customers,” he said during Powervest’s virtual launch today.

Chong said the Powerflex model offers a flexible financial package with zero upfront costs.

“Businesses can opt to fully own the solar PV system by obtaining 100 per cent financing, or they can co-own the asset with Solarvest, in which case they would only need to apply for 50 per cent financing.

“Repayment would be on a monthly instalment basis to the respective financial institution and Solarvest over a customisable period, ranging from three to 10 years,” he said.

Meanwhile, Chong said the Powerlease model, which has been in the market since 2017, is a long-term lease agreement between Solarvest and its partners for the sale and purchase of electricity generated from the solar PV system to be installed.

“The customer will pay Solarvest and its partners a tariff rate that is up to 30 per cent lower than what is normally charged by their utility provider while enjoying free operation and maintenance costs throughout the lease period,” he added. – Bernama