Stanbic Bank Kenya has signed a Memorandum of Understanding (MoU) with Premier Solar Solutions Limited to significantly expand access to affordable and reliable solar energy solutions for businesses throughout the country.
Speaking at the signing ceremony, Priscilla Were, Head of Sustainability at Stanbic Bank Kenya, highlighted the strategic importance of the collaboration: “Renewable energy is a strategic priority for Stanbic Bank because it supports Kenya’s economic resilience and long-term prosperity. Access to stable and affordable power is essential for businesses. Through this partnership with Premier Solar, we are removing barriers that have slowed the adoption of clean energy.”
Ms. Were detailed the restructured renewable energy financing designed to facilitate a seamless transition to solar:
- Loan Tenors: Up to ten years.
- Financing: Up to 100% financing.
- Credit Checks: Simplified process for SMEs.
- Collateral: No additional collateral required for eligible customers.
The collaboration offers a comprehensive package to support clients throughout their solar adoption journey, including:
- Free Energy Audits
- Streamlined Documentation
- Moratorium on principal repayments during the installation period.
- Discounted Interest Rates
- NIL processing fees for enterprise clients.
All installations funded through this partnership will exclusively utilize Tier 1 solar panels, batteries, and inverters sourced via accredited EPC partners, ensuring high quality and reliability.
“Our goal is to support our clients throughout the transition, from sourcing equipment to installation and financing. Together with Premier Solar, we will help businesses reduce energy costs, improve reliability and contribute to Kenya’s clean energy goals,” Ms. Were added.
Rupesh Hindocha, CEO of Premier Solar Solutions, welcomed the agreement, emphasizing its alignment with the company’s core mission: “Premier Solar is committed to providing clean, affordable and reliable power to businesses in Kenya. Working with Stanbic Bank enables more enterprises to adopt high-performing solar systems through flexible and accessible financing.”