ACEN CORP., the Ayala group’s listed energy company, said it is supporting a solar rooftop program in Ilocos Norte that allows households to install systems through collateral-free financing.
In a statement on Wednesday, ACEN said the provincial government of Ilocos Norte, in partnership with the company and GCash, has launched the Ilocos Norte Solar Rooftop Campaign, which enables households to access solar rooftop systems and net metering under financing arrangements without the need for traditional bank collateral.
Under the program, households can install solar rooftop systems through financing provided by Fuse Financing, Inc., the lending arm of GCash, with payment terms ranging from three to 10 years and monthly installments starting at about P1,300.
“What makes this framework meaningful is that the financing is designed to be accessible for all. It offers a competitive rate, has a simple online application process, and no lengthy documentary requirements needed,” said Tony Isidro, president and chief executive officer of Fuse Financing.
The program also allows households to benefit from net metering through the Ilocos Norte Electric Cooperative (INEC), enabling excess electricity generated from rooftop systems to be exported to the grid in exchange for bill credits.
Solaric Philippines will support the supply and installation of solar rooftop systems under the program.
The initiative targets households with average electricity consumption of at least 4 kilowatt-hours per day, where solar installations can provide savings.
Initial rollout areas include Laoag City, Dingras, and Pagudpud, with limited slots available for participating households.
The program was formalized through a memorandum of agreement signed on March 16 at the Ilocos Norte Provincial Capitol.
“This initiative reflects how strong collaboration between the public and private sectors can bring the benefits of renewable energy directly to communities,” said ACEN Chief Executive Officer Eric Francia. — Sheldeen Joy Talavera
