Equity Bank and solar energy company, Orb Energy, have expanded their partnership to offer tailor-made loans that w*** enable **mes, ins***utions and industries to acquire solar water heater systems – a renewable clean energy alternative to electric water heating.
This agreement comes just before the Energy Regulation Commission (ERC)’s November 22 ****line for **use**lds and ins***utions that consume more than 100 litres of **t water per day to install solar water heating systems in accordance with the Energy (Solar Water Heating) Regulations 2012.
Through the Equity Bank loan product, Kenyans w*** be able to acquire solar water heaters that w*** see them save up to 60% of the money spent on their electricity b***. Orb’s Sunstream solar water heating systems caters for residential and buildings that consume over 100 litres of **t water a day as well as industrial facilities that consume up to 13,000 litres per day or more.
Speaking on the initiative, Equity Bank’s Director of Operations and Customer Experience, Gerald ***ui said, “Equity is committed to promoting the use of clean energy products and has so far hel*** 16,000 **use**lds – equivalent to an esti***** 70,400 individuals – benefit from these products. The partnership with Orb Energy now allows us to avail to our clients a more enhanced product offering.”
The partnership with Orb Energy is also in line with the Group’s mission to offer inclusive customer-focused financial services that socially and economically empower communities, thus complementing government efforts to offer decent liveli**ods and promote the adoption of green energy.
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Mr Ramin Nadimi, Orb Energy’s Vice President for Africa, said his company is committed to ens****g custo**** can afford and have easy access to solar water heating and solar power products by partnering with like-minded financial ins***utions such as Equity Bank. He also added that the move is part of Orb’s objective of providing a range of high quality solar energy solutions to Kenyans, helping families to save money and enhance their quality of life.
In the deal, custo**** w*** be able to access free site surveys from Orb Energy that includes free technical and financial *****sment by Orb technicians. Orb also takes care of all installation and after-sales service countrywide. The product has a five year ***ranty and the repayment period is approximately 24-36 months based on savings generated by switching to solar water heating options.
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