MoU signed to promote use of renewable energy

Islamabad: The Khushhali Microfinance Bank, Pakistan’s largest microfinance bank, has

partnered with the Greenlight Planet, a global leader in solar home energy products.

The partnership is meant to help meet the country’s energy consumption needs in a sustainable manner, as the KMBL will offer Greenlight Planet’s Sun King range of Solar Home Systems and Lighting Solutions on easy installments to its customers.

The memorandum of understanding has been facilitated by the IFC under their Lighting Pakistan Programme. The IFC introduced their Associate Greenlight Planet and their country distributor to the Khushhali Bank to facilitate financing options for quality verified solar lighting solutions at a consumer level.

Lighting Pakistan Programme will also provide support in consumer awareness campaigns, training programmes and market intelligence. Talking about the accord, President KMBL, Ghalib Nishtar said, “Khushhali Microfinance Bank is collaborating with Greenlight Planet to facilitate the provision of Sun King range of transformational solar products for under-served customers and address energy issues of masses living in far-flung areas with a particular focus on off-grid areas. This move will also positively impact the livelihoods of people in these areas.”

“We are looking forward to expand Greenlight Planet’s footprint across Sindh and enable affordable, clean and reliable Sun King branded off-grid solar solutions for our customers,” he further added.

Tariq Zaman, Global Partnerships Manager, Greenlight Planet said on the occasion, “This partnership marks a significant step towards using sustainable, clean energy to power Pakistan. Our endeavour will be to provide more sophisticated products across villages through continuous research and innovation based on consumer insights and customer engagement initiatives.”

Given the energy crisis in the country, this strategic alliance envisages to promote the use of renewable energy by facilitating the bank’s customers in accessing world class renewable energy products on easy financing services.

The KMBL and Greenlight Planet will also initiate a social awareness campaign to educate the users about benefits of shifting to renewable energy sources. This service will be launched at Hyderabad, Thatta, Badin, Mirpur Khas, Tando Allahyar, and Nawab Shah as KMBL is committed to supporting product innovation for bottom of the pyramid markets that provide economic opportunities to the majority of the population in Pakistan.