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Clean energy specialist, Solarvest Holdings Berhad has launched Malaysia’s first renewable energy financial technology (fintech) platform, which is complementary to its solar financing solution – Powervest.
The first-of-its-kind service is an extension of Powervest, which was established in 2021 to promote renewable energy adoption among commercial and industrial players via its zero initial cash outlay proposition. This new fintech solution introduced will further improve the service comprehensiveness of Powervest, making the switch to clean energy a hassle-free experience.
Powervest’s fintech platform is aimed at creating a completely digitalized experience for its clients, enabling a seamless onboarding process. Some of the key features include credit health analysis and the provision of renewable energy financing solutions.
The fintech platform offers free credit health reports to prospective clients with unlimited submissions. Through this automated application function, clients can expect to obtain the reports instantaneously once the relevant documents are uploaded. Following that, they will receive tailored-made renewable energy proposals which include financing models based on the respective credit health report obtained.
Executive Director and Group Chief Executive Officer of Solarvest, Mr Davis Chong Chun Shiong said, “We believe that the renewable energy industry can only improve if we continuously seek to develop its supporting ecosystem. As one market leaders, it is our responsibility to inspire advancement and push the innovation frontier of the sector. The launch of the fintech platform today is yet another example of that and an important step forward for the industry.”
“Under Powervest, we have made good progress when it comes to encouraging more commercial and industrial players to participate in this clean energy transition. Not resting on our laurels, we want to continue to make the process easier for businesses by reducing friction in the customer experience. With an integrated platform capable of handling all processes from credit health checks to generating RE proposals, we are positive that the renewable energy adoption rate will see bigger leaps moving forward.”