Friday , 19 April 2024

Security Bank partners with Helios for solar mortgage program

Security Bank Corporation (PSE:SECB) has teamed up with Helios, the country’s pioneering climate fintech firm behind the innovative solar mortgage program, to revolutionize the way Filipinos access clean and sustainable energy. 

This strategic partnership, cemented by the signing of a Memorandum of Agreement (MOA) on February 29, 2024, marks a significant milestone in the journey towards a greener and more sustainable future for the Philippines. 

Helios, known for its innovative approach, has been instrumental in helping Filipinos reduce their electricity bills. With the escalating power costs, homeowners face mounting financial pressure. By integrating solar panels into housing loans, Helios and Security Bank provide a lifeline for homeowners seeking relief from high utility expenses. 

“By leveraging each other’s strengths, we aim to position our solar mortgage offering not merely as an option, but as a necessity,” said Paz Gonzalez, SVP andSecured Lending Division Head, Security Bank. “This partnership encompasses a referral arrangement, wherein Helios will direct prospective clients to Security Bank for home loans inclusive of solar panels; utilization of the home equity option for solar panel acquisition; and solar mortgage to eligible clients through our Top-Up Program.” 

The cornerstone of this partnership is the creation of a groundbreaking financial product that integrates solar panel purchases into new or existing housing loans offered by the Bank. This approach not only makes solar energy more accessible but also provides homeowners with a cost-effective solution to embrace renewable energy. 

“Solar mortgages, led by Security Bank, will completely change the way solar is sold and the way we generate value from our homes. We don’t have to wait for capital appreciation or rental income. [You can] add solar for zero down today and create a completely passive income stream for your family, all with zero downpayment today,” said Hsin Yao Cheng, Founder and CEO of Helios.  

One of the key highlights of this collaboration is Helios’ commitment to ensuring quality and reliability in solar panel installations. Helios collaborates with reputable solar panel providers nationwide, offering panels with a 25-year warranty, providing homeowners with peace of mind and long-term savings on their energy bills. Moreover, Helios prioritizes preventive maintenance and consistent support to ensure the efficient functioning of solar systems throughout their lifespan. 

Beyond clean energy, the partnership also underscores Security Bank’s commitment to sustainability. By promoting the adoption of renewable energy solutions, the Bank and Helios aim to contribute to the reduction of carbon emissions and the preservation of the environment.

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