Banking on Green Energy

Financing of green investments is an integral and strategic leap towards a more sustainable future. It is a socially responsible means of funding to support the transition from carbon dependence to more sustainable alternatives.

The newly launched BOV Personal Energy Loan was discussed during a recently held webinar co-hosted by Bank of Valletta and The Malta Chamber for the green energy business sector.

“Personal customers now have a solution to finance an environment friendly investment through energy efficiency and renewable energy products,” stated Alan Micallef, Head Consumer Finance at Bank of Valletta. He highlighted that it is expected that more consumers will be interested in green products as sustainability gains more traction within the Maltese society, and that offering affordable and accessible bank financing is one way to instigate demand. “In light of better loan terms and affordable interest rates, the value of such products is expected to rise,” continued Mr Micallef.

The BOV Personal Energy Loan is a low-cost financing solution designed to finance investments that help reduce your carbon footprint. With a maximum lending amount of €50,000, it can be spread over 15 years and comes with several benefits such as zero processing fees, a low variable interest rate and an interest rate subsidy for the first 3 years. Furthermore, consumers are not required to provide any security or contribution. The loan can cover costs of installation and external connectivity of equipment and fixtures that generate renewable energy and sustain energy efficiency such as PV panels, solar water collectors and space heating, as well as numerous measures including insulation, EV charging stations and cooling systems.

The BOV Personal Energy Loan is financially supported by the Energy Efficiency and Renewable Energy Malta Fund (EERE) which is co-financed by the Republic of Malta and the European Union under the European Regional Development Fund (ERDF).

All loans are subject to normal bank lending criteria and final approval from the Bank. The term of the loan must not go beyond retirement age. Terms and conditions are available on www.bov.com. Issued by Bank of Valletta p.l.c., 58, Triq San Zakkarija, Il-Belt Valletta VLT 1130.  Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking in terms of the Banking Act (Cap.371 of the Laws of Malta).