Solar panels firm and NBB sign loan accord

Customers who wish to apply for financing will benefit from quick approvals, competitive interest rates


MANAMA: Almoayyed Solar Company has partnered with the National Bank of Bahrain (NBB) to offer exclusive financing plans for its retail customers looking to make sustainable life choices by installing solar energy panels.

The offer is aimed at helping applicants contribute positively to the environmental preservation and enable renewable resources to be more readily available across the kingdom.

The Solar Panel Financing coincides with the company’s strategy to mobilise a national shift towards alternative clean energy solutions provided by the company.

“As a leading solar panel provider, Almoayyed Solar Company seeks to encourage environmental conservation as an essential component towards the gradual shift to a more environmentally-conscious society,” said Almoayyed International Group chairman Mohammed Farouk Almoayyed.

“Alongside our collaboration with the NBB, the Solar Panel Financing is amongst one of our many initiatives in which we aim to have solar panels readily available for our customers, offering dedicated maintenance teams and world-class aftercare services.”

Customers who wish to apply for financing will benefit from quick approvals, competitive interest rates, alongside zero processing fees and a 50 per cent discount on insurance fees with a tenure of up to seven years.

“We hope to increase awareness amongst our valued clients on the significant impact that this initiative will have on our community,” said NBB retail banking chief executive Subah Al Zayani.

“We aspire to work side by side with more companies in the private sector in order to collectively preserve the environment and enrich the lives of future generations.”

Solar panel installation positively contributes towards decreasing the current impact on the environment, and installers will ultimately be able to reduce their costs in the long run as they receive a reduced electricity bill and gain an increase in the property value over time.

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