(iStock)
Security Bank Corp. has partnered with climate fintech firm Helios to enhance access to clean energy for Filipino homeowners. The two firms signed a memorandum of agreement last month to alleviate financial pressure on households facing increased power costs.
Paz Gonzalez, senior vice president of Security Bank, said, 'By leveraging each other's strengths, we aim to position our solar mortgage offering not merely as an option, but as a necessity.'
'The 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,' she said.
According to Security Bank, the partnership intends to create a financial product that combines solar panel purchases into new or existing housing loans offered by the bank. This will offer households with a cost-effective solution in adopting renewable energy.
Helios, a startup based in Philippine, aims to facilitate Filipino households' access to solar energy through affordable financing solutions and help reduce power costs for families.
Hsin Yao Cheng, CEO of Helios, said, 'Solar mortgages, led by Security Bank, will completely change the way solar is sold and the way we generate value from our home. We no longer need 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.'
The collaboration also underscores Helios' dedication to ensuring quality and reliability in solar panel installation. The firm works with solar panel providers across the country, offering panels with a 25-year warranty.
Security Bank expects that the partnership will promote the adoption of renewable energy, contribute to the reduction of carbon emission, and lead the Philippines towards a greener future.
