Siam Commercial Bank (SCB) has joined forces with PTT Oil and Retail Business PCL (OR) to introduce a groundbreaking solar rooftop loan initiative tailored exclusively for PTT gas station dealers. This innovative program extends eligible dealers the opportunity to secure loans for up to 100% of their solar energy investments, coupled with a maximum repayment period of 10 years. Backed by a principal-free initial year and an attractive fixed interest rate of 3.99% per annum during the first year, this initiative underscores the Net Zero strategy in alignment with OR’s vision.
The collaborative endeavor aims to launch a nationwide campaign advocating the adoption of solar energy within PTT stations, thereby generating clean electricity for power station operations. This significant transition to renewable energy reflects PTT’s steadfast commitment to becoming a premier service provider while reducing its ecological footprint. The initiative resonates with PTT Station’s ethos of being a “station that spreads joy,” fostering harmonious growth alongside people, communities, and the environment. The goal is to transform the initial 200 PTT stations into green energy hubs by the close of 2023.
During the joint announcement, Mrs Pikun Srimahunt, Senior Executive Vice President and Chief SME Banking Officer at Siam Commercial Bank, highlighted the pressing challenge faced by Thai SMEs in adopting sustainable practices, particularly in curbing carbon emissions. She emphasized the need for swift action to ensure the competitiveness of SMEs in the future. Mrs Pikun stressed the importance of collaboration between banks, large corporations, and SMEs for a seamless transition to clean energy solutions, such as solar power, to efficiently reduce carbon emissions.
SCB’s commitment is manifested through the SCB SME Green Finance solutions, providing credit lines to support sustainable business practices and financing for technology investments aimed at enhancing efficiency and cost management across diverse industries. This commitment aligns with SCB’s overarching goal of achieving net-zero emissions by 2030 and eliminating emissions from lending and investments by 2050.
Mr Piman Poolsri, Senior Executive Vice President of the Oil Retail Business at PTT Oil and Retail Business PCL, highlighted the pivotal role of solar rooftops in PTT station operations as a vital environmental initiative. This initiative aligns with their vision of fostering sustainable growth alongside people, society, and the environment, echoing OR’s SDG concept, G-Green, aimed at creating a cleaner society. With a target to equip over 2,000 PTT stations and more than 1,600 dealers with solar rooftops, OR takes the lead in clean energy service stations.
This initiative not only minimizes environmental impact but also enhances operational efficiency, translating to cost savings for businesses. OR aims to generate 18 MW of electricity from solar rooftops by 2030 while pursuing carbon neutrality by 2030 and net zero carbon emissions by 2050 from business operations. The collaboration with SCB to provide financial solutions is instrumental in realizing OR’s clean energy station goals.
The Solar Rooftop Loan, a part of SCB SME Green Finance Solutions, offers a credit line of up to 100% of the investment, with a maximum repayment period of 10 years, including a 1-year grace period. As the collaboration gathers momentum, the transformation of PTT gas stations into green energy hubs marks a significant stride toward a more sustainable and environmentally-conscious future.