LILONGWE-(MaraviPost)-Standard Bank Plc proudly reaffirms its partnership with 265 Energy to offer accessible loan packages that enable clients to harness the power of solar and other renewable energy sources.
This collaboration exemplifies the bank’s commitment to address Malawi’s energy needs while fostering economic growth across the nation.
Since joining forces in 2022, Standard Bank and 265 Energy have witnessed a remarkable uptake of solar and gas solutions among their clients.
This timely partnership has played a crucial role in alleviating Malawi’s energy deficit, particularly during the early months of 2023, when the demand for non-renewable wood and charcoal-based energy solutions was at its peak.
By leveraging the expertise of Standard Bank and the innovative solutions of 265 Energy, everyday Malawians now have access to affordable renewable energy options that offer a multitude of benefits.
The loan packages cater to both residential and commercial clients, empowering them to embrace clean and sustainable energy sources for their daily needs.
“With our renewable energy financing, we aim to ensure that all segments of society can enjoy the advantages of clean energy,” emphasized Graham Chipande, Head of Business and Commercial Banking at Standard Bank.
“By partnering with 265 Energy, we are enabling individuals and businesses to transition to renewable energy, which brings cost savings, reliable power supply, and a positive impact on the environment.”
The partnership’s success story is exemplified by Chikondi Lifa, a satisfied client who recently had a solar system installed at his house through the Standard Bank and 265 Energy solar financing partnership.
Lifa shared his experience, stating, “Since embracing solar energy, we have enjoyed uninterrupted power supply, significant savings on electricity bills, and a sense of pride in contributing to a greener Malawi. It has truly transformed our lives.”
Mfundo Mbvundula, CEO of 265 Energy, stated, ‘We are thrilled about our renewable energy financing partnership with Standard Bank, as it allows us to bring high-quality solar products within reach of all our clients, persuading them to embrace solar power. Whether it’s individuals constructing new homes or businesses seeking reliable energy solutions, we are here to assist.
“For instance, Mr. Lifa, whose house we are visiting, wanted a solution for load shedding. With Standard Bank’s financing, we provided him with long-lasting lithium batteries with a remarkable 10-year lifespan, along with solar panels and an inverter. This partnership exemplifies our passion for providing affordable and sustainable energy choices to every Malawian.’
The Standard Bank and 265 Energy partnership is aligned with Malawi’s national objectives of achieving energy security and sustainable development.
By embracing renewable energy solutions, everyday Malawians can overcome the challenges posed by unreliable power supply, reduce their energy expenses, and actively contribute to a greener and more prosperous future for the nation.