Bank Islam partners TNB to provide financing for PV ownership

KUALA LUMPUR, July 1 — Bank Islam Malaysia Bhd has partnered with Tenaga Nasional Bhd (TNB) and its subsidiary, GSPARX Sdn Bhd, to provide financing for solar photovoltaic (PV) ownership for homeowners in the country.

Bank Islam chief executive officer (CEO) Mohd Muazzam Mohamed said the partnership is part of the bank’s green financing journey that focuses on encouraging sustainable business and lifestyle practices.

“Through this collaboration, Bank Islam is offering up to 100 per cent financing for the purchase of GSPARX’s solar PV package or up to RM300,000 with attractive floating rate of as low as 4.67 per cent or fixed rate of 4.5 per cent for three years accordingly,” he said in a statement today.

He added that GSPARX will be offering residential packages which include one-year free maintenance, product and workmanship warranty, 24/7 online monitoring, as well as after-sales services.

“These added values will not only benefit customers but will also be instrumental in preserving the planet through promoting renewable energy. It is also a part of our contribution to realising Malaysia’s aim of achieving 20 per cent of renewable energy generation by 2025,” he added.

Meanwhile, TNB president and CEO Datuk Seri Amir Hamzah Azizan said TNB is at the forefront of renewable energy in Malaysia through its large-scale solar projects in Sepang, Selangor and Bukit Selambau in Kedah, and initiatives like electric vehicle charging stations in collaboration with Malaysian Green Technology Corporation.

“TNB is actively promoting rooftop solar panels whereby at the end of last year, we had more than 100 customers from commercial, industrial, educational, government institutions, and residential homes, who have turned into ‘prosumers’, generating clean energy on their premises,” he said. — Bernama

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