Stanbic Bank Moves to Ease Access to Renewable Energy For Business

Stanbic Bank Kenya has signed a Memorandum of Understanding with Premier Solar Solutions Limited to expand access to affordable and reliable solar energy for businesses. The partnership strengthens Stanbic Bank’s renewable energy proposition and supports Kenya’s transition to clean and stable power.

Ms Priscilla Were, Head of Sustainability at Stanbic Bank Kenya, said the partnership reflects the bank’s commitment to supporting sustainable growth.

“Renewable energy is a strategic priority for Stanbic Bank because it supports Kenya’s economic resilience and long-term prosperity. Access to stable and affordable power is essential for businesses. Through this partnership with Premier Solar, we are removing barriers that have slowed the adoption of clean energy,” said Ms Were.

She said Stanbic Bank has redesigned its renewable energy financing to have more clients transition to solar with ease. “With loan tenors of up to ten years, up to 100% financing, simplified credit checks for SMEs and no additional collateral for eligible customers, we are making renewable energy more accessible and more affordable,” added Ms Were.

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Under the collaboration, clients will receive free energy audits, streamlined documentation, a moratorium on principal repayments during installation, discounted interest rates, and free fees for enterprise clients. All installations funded under the partnership will use Tier 1 solar panels, batteries and inverters sourced through accredited EPC partners.

“Our goal is to support our clients throughout the transition, from sourcing equipment to installation and financing. Together with Premier Solar, we will help businesses reduce energy costs, improve reliability and contribute to Kenya’s clean energy goals,” said Ms Were.

Premier Solar Solutions CEO, Mr Rupesh Hindocha, welcomed the agreement, noting that the partnership strengthens the company’s mission to deliver high-quality solar solutions.  “Premier Solar is committed to providing clean, affordable and reliable power to businesses in Kenya. Working with Stanbic Bank enables more enterprises to adopt high-performing solar systems through flexible and accessible financing,” said Hindocha.