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November 24, 2020
Business Latest Pakistan

JS Bank joins hands with Hadron Solar for solar financing

KARACHI: Under the State Bank of Pakistan’s (SBP) scheme of financing solutions for renewable energy, JS Bank has partnered with Hadron Solar for promoting solar panel funding for Small & Medium Enterprises (SMEs) and homeowners as well as solar powered tube wells for farmers.

By joining hands, JS Bank and Hadron Solar seek to develop a framework for growth of shared values that will assist residential, agricultural and commercial endeavors. Using renewable energy, JS Bank clients can reduce electricity costs, reduce dependence on the national energy grid and protect the environment by utilizing non-polluting power generation sources. The loans are offered at a rebated mark-up rate of 6% flat.

Commenting on the occasion, Babbar Wajid, Business Head – Consumer Banking & Product Management JS Bank said, “Our alliance with Hadron Solar reflects our commitment towards use of alternate and renewable energy. Funding has been the key challenge for consumers, thus I’m very confident that our financing products will support customers in reducing their costs, grid dependence and consequently carbon footprint, for creating more sustainable future environments.”

Zafar Sobani, Chairman of Hadron Solar Board, commented positively regarding the prospects of the alliance, “We see an opportunity to help families and businesses lower their energy bills by improving their access to solar power sources. By partnering with JS Bank, Hadron Solar aims to expand the residential & commercial solar market by lowering the upfront investment.”

By undertaking such innovative and business building partnerships, JS Bank remains committed towards its role as a catalyst in the entrepreneurial ecosystem of Pakistan.