UOB clients get help to switch to solar power

UOB has partnered three home-grown solar companies for the Singapore portion of its regional U-Solar programme.

The programme connects Asian businesses and individuals with the bank's partner companies to help clients switch to solar power.

Under the collaboration, businesses and home owners can adopt solar energy by choosing installation and after-sales service packages from the three companies - SolarGy, SolarPVExchange and Sunseap Group.

UOB will help with the costs of installing and maintaining the system by offering business owners solar equipment financing, while home owners can opt for a 0 per cent interest instalment plan of up to 36 months.

U-Solar was launched in Malaysia last month, and then in Indonesia, before being unveiled here yesterday.

Mr Frederick Chin, UOB's head of group wholesale banking and markets, said: "Solar power is not only a clean and efficient energy source, but has also become a more economically viable option as the technology to harness solar energy matures. Despite this, many companies and consumers remain hesitant to adopt solar power, believing that it requires high upfront investment."

UOB shares closed down 0.4 per cent at $26.01 yesterday.

A version of this article appeared in the print edition of The Straits Times on November 27, 2019, with the headline 'UOB clients get help to switch to solar power'. Print Edition | Subscribe