Housing Finance now into solar financing

Ms Ninayai Muteluai positions her solar panel on the roof of her manyatta. Come nightfall, she is assured of bright light in the house. PHOTO | COURTESY 

In Summary

• The leasing product will offer several long-term options, with flexible terms that reduce capital expenditure. The solution is available to customers seeking solar water heating and solar systems for any other use such as lighting.
• Speaking at the Solimpexs Africa Solar Energy Symposium held on June16 at a Nairobi Hotel, Mr Frank Ireri, Housing Finance’s managing director, said the company is committed to developing products that meet the needs of their customers.

By IMMACULATE WAIRIMU
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Financial services provider Housing Finance recently announced the introduction of SOLA Pawa leasing, a solar financing solution that will complement its recently launched solar financing loan, SOLA PAWA.

The financing solution, which targets both residential and commercial properties, is not only in response to the Energy (Solar Water Heating) Regulations 2012, but also seeks to address the prohibitive costs required to invest in solar energy.

The leasing product will offer several long-term options, with flexible terms that reduce capital expenditure. The solution is available to customers seeking solar water heating and solar systems for any other use such as lighting.

Speaking at the Solimpexs Africa Solar Energy Symposium held on June16 at a Nairobi Hotel, Mr Frank Ireri, Housing Finance’s managing director, said the company is committed to developing products that meet the needs of their customers.

NEW REGULATIONS

“This financing solution is part of our commitment to encouraging and participating in energy conservation. Through this product, we are giving our customers the tools they need to ensure they comply with the new regulations,” he said.

He said the product the was timely since the government has introduced energy regulations that make it mandatory for new developments to install solar systems.

The Energy Act of 2006 and The Energy (Solar Water Heating) Regulations, 2012, stipulate that all premises being constructed within the jurisdiction of a local authority with hot water requirements exceeding 100 litres per day shall install and use solar heating systems.

The Solimpexs Africa Solar Energy Symposium brought together members from the private and public sectors to discuss solar initiatives and solutions.

Solimpexs Africa Ltd is a local manufacturer of solar water heating systems.