Oriental announced an alliance with renewable energy company, WindMar Home, to offer —the first time in Puerto Rico — financing for solar energy products, allowing customers to obtain monthly savings on their electricity bill, the companies announced.
“We are two distinctly Puerto Rican companies, which decided to unite to offer customers a first-class product and service. Many clients are looking to save on their energy costs; so, we decided to design this attractive and unique offer in Puerto Rico for their benefit,” said Fernando J. Herrera, vice president and director of Individual and SME Credit at Oriental.
Herrera explained that the financing will be through Oriental and will be requested through a platform developed by Enium Capital. WindMar Home consultants receive the information of the interested client and coordinate an appointment to present the different options available and that best suit their needs.
If the client is interested in applying for the loan, a WindMar Home sales representative will help with the process and will inform the customer of the decision on the spot. Average loans for solar power equipment are for some $20,000.
However, the amount can range from $5,000 to $100,000, depending on the individual consumer’s energy consumption. As part of the evaluation, Windmar representatives will look over the potential client’s energy bills for the last 12 months.
“At Oriental, we are focused on offering our clients alternatives that are convenient and accessible to their needs. We want our customers to be in control of their quality of life, so we help them obtain a complete energy solution where they can secure their energy at a fixed cost and at the same time support keeping the island clean with the use of renewable energy,” Herrera said.
“Through this alliance between two local companies, consumers will be able to obtain a reliable product, which will represent a monthly saving in their energy payments,” he said.
Upon approval Windmar will begin installing the product and it will be in charge of obtaining the necessary certifications and permits for its use. This process lasts approximately six months, officials said.
WindMar began offering renewable energy solutions in 2002, measuring the wind in multiple points of the island for wind projects. It continued its expansion developing solar projects. It moved into the domestic renewable energy market with WindMar Home.
Since its founding, WindMar’s mission has been to “provide clean, renewable and reliable electricity, produced locally.”