Investment in renewable and efficient energy solutions serves as a formula that customers and businesses can undertake in a sustainable and strategic manner. The initial expense of such energy solutions could be an obstacle, but the right financing solution could be key to surmount this barrier.
BOV Energy Loans are a set of accessible and affordable solutions to finance the green leap to renewable and energy efficient investments. These were discussed during a recent webinar hosted by the Chamber of Engineers and Bank of Valletta.
Key speakers from Bank of Valletta and the European Investment Bank explained how these energy loans can help both individuals and businesses to reduce their carbon footprint while investing in energy-saving measure.
“The term ‘green investing’ is becoming a common topic in the banking industry,” said Malcolm Zammit, president of the Chamber of Engineers.
While introducing the webinar, Zammit stated that entities in particular should hold sustainability as a core principle of their business model.
“Businesses can now take corporate responsibility to another level by making green choices in the way they operate,” he said.
Mark Scicluna Bartoli, executive product development and management at BOV, added: “Bank of Valletta is providing the local market with three tailor-made financing solutions for the personal customer, the home-owner and the business client.
“In line with the recently-published EU Sustainable Finance Strategy, BOV is piloting these three energy loans in the local market with the objective of empowering retail investors and SMEs to access sustainable finance opportunities through innovative EU risk sharing instruments.”
BOV Energy Loans benefit from a guarantee offered by the EU and the Maltese government that permit the bank to provide an attractive interest rate and collateral terms.
Over and above, the loans benefit from a two per cent interest rate subsidy for the first three years, which will contribute towards improving the payback of green investments.
A recording of the webinar is available at https:// youtu.be/z9WtCGikyM4.