UOB Partners with SolarGy, Sunseap Group, and SolarPVExchange For a Solar Financing Program


UOB (United Overseas Bank) has entered into a collaboration with homegrown solar firms SolarGy, Sunseap Group, and SolarPVExchange for implementation of its U-Solar Plan in the Singapore section, according to the latest reports. The plan acts as a link between the UOB’s solar firm partners and Asian individuals and businesses so that the latter can make a hassle-free switch to solar power and go green.

Thanks to the collaboration, individual homeowners and businesses can opt from a string of packages offered by these three solar companies for adopting solar energy. The clients have installation, operations, after-sales services, as well as commissioning packages to choose from for solar systems.

To make things a bit more appealing and easier, the bank is also offering solar equipment financing to business owners. The financing will assist businesses in covering the installation and maintenance costs of the systems.

Apart from that, UOB has decided to provide the individual clientele with an installment plan at 0% interest rates, with a duration of up to 3 years.

UOB’s Wholesale Banking and Markets’ Group Head, Frederick Chin, said that solar power, in addition to being an efficient and clean energy source, it has become a more economically viable alternative with advancing technology. Chin also added that in spite of this fact, there are many consumers and businesses out there who are still hesitant in adopting solar power as they believe its upfront investment cost is high.

It is vital to note that before the Singapore launch, UOB had unveiled the U-Solar program in Malaysia back in October this year and later in Indonesia. With its U-Solar plan, the banking giant is joining forces with various solar firms for every market.

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