ACEN Corp. on Wednesday said that it had partnered with GCash and the local government of Ilocos Norte to launch a rooftop solar financing program in the province.
“By combining solar technology, accessible financing and local engagement, we are making clean energy more inclusive and within reach of Filipino households,” ACEN President and CEO Eric Francia said.
Ilocos Norte Vice Gov. Matthew Marcos Manotoc said, “We’re proud to introduce this as the first-of-its-kind project in the entire Philippines, where we have all these parties come together to spread the benefits of solar energy for everyone.”
The local government-led initiative will allowing households to access clean energy through solar rooftops and net metering under affordable terms.
ACEN said that participating households would be able install solar rooftop systems with flexible financing options, without the need for traditional bank collateral.
The campaign will initially prioritize households with average consumption of 4 kilowatt-hours (kWh) per day and above, where solar installations can deliver meaningful savings.
Pilot locations include Laoag City, Dingras and Pagudpud.
Financing will be made accessible through Fuse Financing Inc., the lending arm of GCash, with reasonable payment terms via its installment feature, GGives.
Terms range from three to 10 years for as low as P1,300 per month.
Solaric Philippines will support the installation of solar rooftop systems for participating households.
ACEN’s share price rose by 11 centavos to close at P2.77 apiece on Wednesday.
