SolarTherm signs MoU with Alliance Finance

Friday, 11 July 2025 01:43 - - {{hitsCtrl.values.hits}}

From left: Alliance Finance Lead Facilitator – Climate Finance Mahinda Gunasekara, Alliance Finance Executive – Climate Finance Hasandi Nawarathne, SolarTherm Business Development Assistant Manager Namindu Paranavithana, Alliance Finance Deputy Managing Director Kusal Jayawardhana, SolarTherm Director Nishantha Jayasuriya, and SolarTherm Sales Manager Julia Seelagama

SolarTherm recently entered into a Memorandum of Understanding (MoU) with Alliance Finance Company (AFC) to jointly promote the ‘AFC Solar Loan’ among SolarTherm customers.

With the AFC Solar Loans, SolarTherm customers can purchase on-grid solar PV systems/equipment that are designed, installed, commissioned and implemented by SolarTherm.

The MoU was formalised by SolarTherm Director Nishantha Jayasuriya and AFC Deputy Managing Director Kusal Jayawardhana in the presence of other representatives and senior leadership from both parties.

“We are proud to sign this Memorandum with Alliance Finance Company, who for more than six decades has served Sri Lankans by providing financial assistance to meet their evolving needs,” said Jayasuriya commented at the formalising ceremony. “As Sri Lankans actively transition toward solar energy backed by the Government’s goal of generating 70% of the country’s energy from renewable sources by 2030, we at SolarTherm understand our responsibility as an industry leader to enable them to make seamless energy transition. By partnering with Alliance Finance to provide the AFC Solar Loan Facility, we are making renewable energy accessible to our customers, so that they can make long-term, sustainable investments for their future.”

As part of the formalised agreement, AFC will provide financial assistance to SolarTherm customers referred by the company to purchase on-grid solar PV systems/equipment, provided applicants are eligible to obtain the loan facility as per the internal guidelines/approvals of AFC. SolarTherm remains responsible for the detailed design of the solar PV system that is to be submitted to the Ceylon Electricity Board (CEB)/Lanka Electricity Company (LECO), and the delivery and installation of materials at the client location. SolarTherm is also responsible for testing and commissioning of the solar PV system in accordance with manufacturer specifications and local regulatory requirements.

SolarTherm is renowned for pioneering solar water heating systems in Sri Lanka, with two factories operating in Ekala industrial Estate and Kandana. It is an authorised dealer for products from Solahart Australia, a global leader in the solar water heating industry as well as Trina Solar electricity modules from China. Furthermore, SolarTherm is the sales and service partner for Fronius inverters made in Austria, considered to be the leading inverter technology for over 20 years.

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