In a move aimed at enhancing sustainable financial offerings, Commercial Bank of Ceylon has entered into a Memorandum of Understanding (MoU) with SolarRay Energy (Pvt) Ltd. This collaboration aims to promote the Bank’s Green Loans and Green Leases, providing both employed and self-employed individuals with affordable financing options for solar energy systems.
The agreement was officially signed during a ceremony that featured Mr. Chamil Suranga Silva, senior representatives from SolarRay Energy (Pvt) Ltd., and Mr. W. D. Jayasuriya, Chief Manager of the Retail Products Department at Commercial Bank, alongside other senior officials from the Bank.
This partnership allows customers of SolarRay Energy to finance the acquisition and installation of solar panels through Commercial Bank’s Green Loans and Green Leases, which are available at reduced interest rates with repayment terms extending up to five years. The special rates and benefits from this initiative will be accessible until August 3, 2027.
This initiative aligns with Commercial Bank’s ongoing commitment to foster environmentally sustainable practices, broaden its array of green financing products, and motivate a greater number of customers to embrace renewable energy solutions.
SolarRay Energy will provide customers with a range of services, including engineering solutions that bridge power assets and utility networks, feasibility assessments, as well as Engineering, Procurement, and Construction Management (EPCM) advisory services. Additionally, they will offer operation and maintenance services to ensure the optimal performance of solar systems.
Customers will also receive substantial warranty protections, including a 12-year limited product warranty and a 25-year limited power output warranty on TRINA Solar crystalline photovoltaic modules, as well as a 10-year limited product warranty on SOLIS three-phase on-grid inverters.
Founded in 2016 by Managing Director Mr. Chamil Silva and Executive Director Mrs. Waruni Ranawaka, SolarRay Energy has transitioned from a conventional solar installation company to a recognized player in renewable energy, electrical engineering, and project management, catering to Sri Lanka’s residential, commercial, industrial, and utility sectors. The company offers comprehensive services that encompass site evaluations, grid interface engineering, and EPCM advisory services, while actively expanding into next-generation Battery Energy Storage Systems (BESS) and advanced energy management solutions.
With a focus on engineering excellence, safety, grid compliance, and long-term performance, SolarRay Energy is dedicated to providing resilient, system-wide energy solutions for both individual homes and intricate commercial enterprises.
Through collaborations such as this one, Commercial Bank is making strides in making sustainable energy solutions more accessible and affordable, reinforcing its dedication to promoting green technologies across Sri Lankan households and businesses.
Commercial Bank holds the distinction of being the first bank in Sri Lanka to surpass a market capitalization of US$ 1 billion. It was recognized as the top-ranked Sri Lankan bank in the 2026 edition of the esteemed Top 1000 World Banks ranking published by The Banker magazine in the UK. The Bank boasts the highest capital base among Sri Lankan banks and is the largest private sector lender in the country. Additionally, it has been ranked No. 1 in the Business Today Top 40 and is acknowledged as the most respected and awarded bank in Sri Lanka, leading in digital innovation and being the nation’s first 100% carbon-neutral bank.
Commercial Bank operates over 270 strategically located branches and a comprehensive network of automated machines throughout the island, along with the most extensive international presence among Sri Lankan banks, featuring 21 branches in Bangladesh, a majority stake in a fully-fledged Tier I Bank in the Maldives, a microfinance entity in Myanmar, and a representative office in the Dubai International Financial Centre (DIFC). Its wholly-owned subsidiaries, CBC Finance PLC and Commercial Insurance Brokers (Pvt) Limited, also provide a diverse range of financial services through their own branch networks.
Photo caption: Mr. W. D. Jayasuriya, Chief Manager of the Retail Products Department of Commercial Bank, and Mr. Chamil Suranga Silva, Managing Director of SolarRay Energy, exchange the signed agreement in the presence of representatives from both organizations.
Financial Chronicle Biz English | Sri Lanka Business News.
