Financial Times - SMLL offers easy leasing terms for solar lighting systems

SMLL offers easy leasing terms for solar lighting systems

Seylan Merchant Leasing Limited (SMLL) has entered into an agreement with Ceylinco Renewables Limited to offer lease facilities for customers who purchase solar generated lighting systems from Ceylinco Renewables Limited, SMLL said.

With requests from the government for companies and individuals to look for alternate sources of energy to save the drain on the national grid, SMLL pioneered this initiative to promote electricity conservation and provide people in some rural areas with a form of electricity for the first time in their lives.

Branded 'solar home systems,' these panels absorb sunlight during the day and convert the energy into 'Ecotricity' which can be used to power lights and even a black and white television set.

Director/General Manager of SMLL Surath Peiris said: "We hope to provide people in rural markets with access to an eco-friendly and reliable source of electricity through this scheme. The fact that this is an easily installable, clean and silent source of power will also make it an ideal option for people in busy cities as well."

Customers who purchase these solar panels on lease can repay the lease in 6 to 38 months depending on the value of the lease. "We will charge a very nominal service charge on the product because it is for a worthy cause," Mr Peiris added.

As its contribution, Ceylinco Renewables will offer the first three services of the solar unit free of charge while the following services will be conducted at a nominal fee.

These lighting systems can be purchased at any Ceylinco Renewables branch or through its dealers. Seylan Merchant Leasing Limited was incorporated in July 2000, and commenced operations in August 2000. Its mission is to develop and market a diverse range of value-added leasing products.

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