Alliance Finance’s commitment to environment
sustainability goes beyond engaging in activities that manage consumption of energy
and other non-renewable resources. The company’s environmental sustainability sphere
also encompasses the very nature of Alliance.
Finance’s product offering to contribute
to the well-being of the planet. It is with this very reason in mind that the company’s
solar panel financing product line was launched. Currently Alliance Finance’s solar
portfolio is worth nearly Rs.150 Million; providing environmentally safe, renewable
solar power to countless homes around Sri lanka. In the coming year, the company
hopes to further expand its environmentally friendly financing in to mini-hydro
financing and financing of hybrid and electric motor bikes.
The solar panel leasing product line constitutes
of the company’s total portfolio. The company disburses its solar financing as a
participating credit institution (PCI) of the World Bank for the Renewable Energy
for Rural Economic Development (RERED) line of credit. The sola product line is
special in respect that the company views it as an aspect of corporate social responsibility
as well as a future growth area. The electrification
provided by the company’s solar financing helps the rural
poor by providing basic lighting to homes that would otherwise never be reached
by the national grid. In 2008/09, the company increases its disbursements by 54%
to Rs.161 Million.
However in the year 2009/10 we have temporary
suspended financing of Solar Home System as NPL ratio has increased sharply due
to the provision of grid power and the economic crisis prevailed during the last
year.