Santander Leasing simplifies RES financing

NEWS

#ecoSantander delivers one of the pillars of the Responsible Banking Agenda (#ResponsibleBanking) which is sustainable and inclusive banking. The implementation of the RB agenda is to manifest itself primarily through products that are eco-friendly and support green transformation, such as Santander Leasing’s latest offer – Solar Lease. The company has expanded its offer of financing a wide range of photovoltaic installations with a capacity of up to 50kW and a net value not exceeding PLN 300 thousand.

Green energy is the future. The challenge of climate change is not to finance those sectors that are already green, but to move the rest of the economy towards the „green side of power”. What we need is development that supports and finances investment in green technologies.

We turn words into deeds. Since February 2020, entrepreneurs conducting business or agricultural activity can receive attractive financing from Santander Leasing, both in the form of a loan and a lease, regardless of the place of installation. The offer assumes the client’s own share from as little as 10% of the installation’s value with the financing period ranging from 12 to even 72 months. The object of financing may include photovoltaic installations from 10kW to 50 kW with a total net value of PLN 15,000 to 300,000.

According to SolarPower Europe’s analysis, Poland was among the top five EU countries with the highest increase in solar power generation capacity in 2019. Spain, Germany, the Netherlands and France are ahead of us. The main driver behind the significant growth of investments in photovoltaics is the access to financing and the investment profitability. Based on the data from the International Renewable Energy Agency (IRENA), between 2010 and 2018, the average cost of 1 kilowatt hour of solar energy dropped from USD 0.37 to USD 0.09.

”As pointed out by market analysts, the development of the energy sector in Poland, including the development of photovoltaics, is strongly dependent on the climate and energy policy of the European Union and the turbulence in the energy policy. This does not change the fact that the regulatory environment is still being clarified and the conditions for financing investments in this area are improving year by year. We are confident that the photovoltaic market will be an important area of investment in renewable energy,” emphasizes Daniel Mrozek, Director of Strategic Partnership and Marketing Department in Santander Leasing. „The EBRD loan of PLN 340 million granted to us at the end of last year (under the PolGEFF Leasing Framework), with the aim of supporting entrepreneurs in the implementation of energy-efficient investments having a positive impact on the environment, is also instrumental in this regard,” he adds.