Security Bank, Helios team up for solar energy in households
Security Bank Corp. has tied up with climate fintech firm Helios to boost the access of Filipino homeowners to clean and sustainable energy.
Security Bank has signed a memorandum of agreement with Helios last month to provide relief for households, as homeowners are dealing with swelling financial pressure amid rising power costs.
“By leveraging each other’s strengths, we aim to position our solar mortgage offering not merely as an option, but as a necessity,” Paz Gonzalez, senior vice president and secured lending division head at Security Bank, said.
“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,” she said.
According to the bank, the partnership aims to create a financial product that combines solar panel purchases into new or existing housing loans offered by Security Bank.
This will provide households with a cost-effective solution in embracing renewable energy.
Helios is a Philippine-based startup that aims to facilitate Filipino households’ access to solar energy through affordable financing solutions and help reduce electricity and power costs for families.
“Solar mortgages, led by Security Bank, will completely change the way solar is sold and the way we generate value from our home,” Helios CEO Hsin Yao Cheng said.
“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.”
The partnership also highlights Helios’ commitment to ensure quality and reliability in installing solar panels.
The fintech firm said it works with solar panel providers nationwide, offering panels with a 25-year warranty.
It is also prioritizing preventive maintenance and consistent support to ensure that systems are functioning efficiently as well.
“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,” the lender said.
“Together, Security Bank and Helios are poised to lead the charge towards a brighter and greener future for the Philippines, one solar panel at a time,” it said.