Segen, BNP Paribas offer C&I energy storage, solar finance product

Wholesaler Segen has entered into a strategic partnership with BNP Paribas Leasing Solutions. The companies yesterday announced they will offer end-to-end financing solutions under the “Segen Finance” brand. The product is aimed at commercial and industrial (C&I) end customers who want to invest in photovoltaic and storage systems but are put off by the upfront costs. Initially, the financing will be offered in the United Kingdom and Germany, with expansion throughout Europe planned.

Based on the financing partnership, installers can offer suitable leasing packages along with their technical solutions, the company added.

“Our installer network has been asking for integrated financing solutions that make the transition to renewable energy more affordable for their customers,” said Nicolas Niedhart, group chief financial officer at Segen Global. “Segen Finance transforms our installers into complete-solution providers and enables their customers to access capital for other strategic investments.”

The companies cite the most important benefit for installers as being that they become “a one-stop shop for solar and storage solutions.” They also benefit from improved cash flow as they gain access to Segen’s hardware at no cost. They can use the freed-up working capital to scale their business. For end customers, high initial investment is eliminated and they instead receive a leasing agreement with “fixed, predictable payments,” Segen stated. Upon completion of the payment plan, the photovoltaic and storage systems become the sole property of the companies.

From pv magazine Deutschland.