SCB and OR Collaborate to Support SMEs with Solar Rooftop Loans

solar energy green finance

Green Initiative for Nationwide PTT Stations

Siam Commercial Bank (SCB) continues to promote sustainability among SME entrepreneurs with its SCB SME Green Finance solutions. In partnership with PTT Oil and Retail Business PCL (OR), the bank has initiated a solar rooftop loan project custom-made for PTT gas station dealers.

Solar Rooftop Loans: Financing a Cleaner Future

Eligible dealers can secure a loan covering up to 100% of their solar investment for a maximum repayment period of 10 years. The loan offers a one-year principal-free period with a fixed interest rate of 3.99% per annum during the initial year. This collaboration aims to launch a nationwide campaign, encouraging PTT stations to adopt solar energy as a means to generate electricity for station usage.

By transitioning to clean energy, PTT intends to grow sustainably alongside people, society, communities, and the environment. The goal is to convert the first 200 PTT stations into green stations with solar rooftop loans by the end of 2023.

SCB SME Green Finance Solutions

Mrs. Pikun Srimahunt, Senior Executive Vice President and Chief SME Banking Officer at Siam Commercial Bank, highlighted the challenges Thai SMEs face in adopting sustainable business practices, especially in reducing carbon dioxide emissions. Banks and large corporations must join forces to assist SMEs in transitioning to solar energy, an efficient approach to reducing carbon emissions.

To facilitate this transition, SCB offers SME Green Finance solutions that provide credit lines to support business sustainability and financing for technology investments. This commitment aligns with the bank’s core goal of achieving net-zero emissions by 2030 and eliminating emissions from lending and investments by 2050.

PTT Station Dealers Adopting Solar Rooftop Loans

SCB SME Green Finance program offers solar rooftop loans to PTT station dealers, enabling them to invest in solar rooftops, save energy, and significantly reduce carbon emissions. The credit limit for these loans ranges from 2 million to 5 million baht, with a flexible repayment period of up to 10 years.

The first PTT station dealer to use this solar rooftop loan is the PTT Station in Chonburi Province, managed by Lert Prasert Oil Co., Ltd. The bank anticipates around 200 PTT station dealers will apply for solar rooftop loans by the end of 2023.

Towards Net Zero Carbon Emissions

Mr. Piman Poolsri, Senior Executive Vice President of Oil Retail Business at PTT Oil and Retail Business PCL, emphasized the importance of installing solar rooftops at PTT stations as an essential environmental initiative. OR aims to equip over 2,000 PTT stations with solar rooftops, driving the transition to clean energy service stations.

OR’s ambitious target is to generate 18 MW of electricity from clean energy via solar rooftops by 2030 while striving for carbon neutrality by 2030 and achieving net zero carbon emissions by 2050 from its business operations.

Solar Rooftop Loan Applications

Entrepreneurs interested in applying for a solar rooftop loan can do so between August 2, 2023, and December 31, 2023. For further information, they can contact the SCB SME Call Center at 02 722 2222 or the relationship manager responsible for their area.