ACEN, GCash pitch solar rooftops to Ilocos Norte households
Ilocos Norte residents may soon have direct access to clean electricity as two firms under the Ayala group teamed up with the provincial government for the deployment of solar rooftop systems.
ACEN Corp., the group’s listed renewable energy arm, together with mobile wallet giant GCash, inked a deal with the provincial government of Ilocos Norte to launch a campaign meant to provide cheaper and accessible terms for Ilocanos wanting to invest in solar rooftops.
This is dubbed as the first government-led initiative in the Philippines that empowers households to tap clean power through solar rooftops.
“By combining solar technology, accessible financing and local engagement, we are making clean energy more inclusive and within reach of Filipino households,” Eric Francia, ACEN CEO, said in a statement on Wednesday.
Households can participate in the program by sending their applications digitally through GCash lending unit, Fuse Financing Inc.
Consumers are also given flexible payment terms, ranging from three years to 10 years, for as low as P1,300 per month.
“It opens opportunities even for households that may not have access to traditional financing or credit cards. This is how we’re expanding access to green financing and making the shift to clean energy more inclusive,” said Tony Isidro, president and CEO of Fuse Financing.
Solaric Philippines will focus on the supply and installation of solar rooftop systems for participating households.
ACEN, given its strong expertise in the field with utility-scale renewable assets, will help in the implementation of the program. The firm has 7 gigawatts of attributable renewable energy capacity.
The project will initially cover households with average consumption of 4 kilowatt hours per day and above in Laoag City, Dingras and Pagudpud.
