Affin Bank encourages renewable energy through Affin Solar Financing-i
KUALA LUMPUR, 31 May 2022: Exchange of Memorandum of Understanding (MoU) between Affin Bank and Suria Infiniti during the launch ceremony of Affin Solar Financing-i at the new Affin Bank TRX building. Affin Bank Bhd and Affin Islamic Bank Bhd have partnered with Suria Infiniti Sdn. Bhd. (Suria Infiniti) in sustaining the Renewable Energy Transition Roadmap (RETR) 2035. AFFIN Solar Financing-i is a personal and sustainable financing plan to facilitate the purchase and installation of Solar Photovoltaic Systems (SPVs) by retail customers in residential and non-residential properties.
Until now, almost 93% of electricity in the peninsula is generated using coal and natural gas. Coal prices continue to rise, and this situation puts pressure on the country’s power generation industry.
Thus, the government has conducted the NEM3.0 program to strengthen solar installations in Malaysia to reduce electricity bills while encouraging the consumption of new energy. NEM3.0 consists of NEM Rakyat, NEM Nova and NEM GoMen. Therefore, the availability of AFFIN Solar Financing-i can further increase the growth of renewable energy in the country in line with the government’s renewable energy aspirations and the Renewable Energy Transition Roadmap (RETR) 2035.
Affin Islamic Bank Chief Executive Officer, Nazlee Khalifah said, “AFFIN Solar Financing-I provides a flexible financing period of up to 10 years between RM20,000 to RM150,000 with various payment modes.”
He added that the scheme offers a simple and easy way for home and building owners to lower their monthly electricity bills as well as reduce their carbon footprint and get a quick return on their investment.
Malaysia needs to provide a major change in renewable energy generation as a way for the country to move forward. Therefore, in collaboration between Suria Infiniti and AFFIN Solar Financing-i, we offer a variety of attractive packages with each solar system installation. For more information, please visit our website at www.suriainfiniti.com.