Reinforcing its long-term commitment to sustainability, The Commercial Bank of Ceylon has entered into a strategic partnership with GAIA Greenenergy Holdings to expand access to the Bank’s Green Loans and Green Leases, offering employed and self-employed customers more affordable pathways to adopt solar power.
The partnership was formalised with the signing of a Memorandum of Understanding by Mr. Dushmantha Jayasuriya, Chief Manager – Retail Products Department of Commercial Bank, and Mr. Lalinda Kalubowila, Chief Executive Officer of GAIA Greenenergy Holdings.
Under this collaboration, Commercial Bank is extending preferential interest rates starting from 10.00% per annum, with repayment periods of up to seven years, to drive wider uptake of solar installations. Customers can use the Bank’s Green Loans and Green Leases to finance the purchase and installation of solar panels, and will benefit from some of the most competitive green-financing rates now available in the market. The promotion runs until 2nd December 2026.
GAIA will complement this offering with a comprehensive suite of services that strengthens customer value. These include the development, design, construction, operation and maintenance of Solar PV systems, with options ranging from standard solar systems to hybrid models from 3 kW upwards.
Customers will also receive one year of free service and one year of insurance. Solar systems installed by GAIA are monitored in real time through a central control division at its headquarters enabling the company’s design and engineering teams to advise clients promptly on any performance deviations. GAIA provides 12-year warranties on panels, 10-year warranties on inverters, and a 30-year performance guarantee on panels.
GAIA Greenenergy is an industry-leading renewable energy provider backed by top global ESG investors. The company is spearheading Sri Lanka’s largest rooftop solar initiative, a 350 MW programme implemented through an innovative public-private partnership spanning seven provinces. Its model supports Sri Lanka’s energy-transition goals by reducing reliance on fossil fuel imports, lowering national energy costs and improving grid resilience.
Commercial Bank said its partnership with GAIA reflects the Bank’s commitment to popularising green products and expanding its Green Loan and Green Lease portfolio, while making sustainable energy solutions more accessible to customers through lower financing costs and reliable, high-quality solar solutions.
The first Sri Lankan bank with a market capitalisation exceeding US$ 1 billion, Commercial Bank was also the first bank in the country to be listed among the Top 1000 Banks of the World, and has the highest Tier I capital base among all Sri Lankan banks. The Bank is the largest private sector lender in Sri Lanka and the largest lender to the country’s SME sector. Commercial Bank is also a leader in digital innovation and is Sri Lanka’s first 100% carbon-neutral bank.
Commercial Bank operates a network of strategically located branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 branches in Bangladesh, a fully-fledged Tier I Bank with a majority stake in the Maldives, a microfinance company in Myanmar, and a representative office in the Dubai International Financial Centre (DIFC). The Bank’s fully owned subsidiaries, CBC Finance Ltd. and Commercial Insurance Brokers (Pvt) Limited, also deliver a range of financial services via their own branch networks.
Photo caption:
Mr. Dushmantha Jayasuriya, Chief Manager – Retail Products Department of Commercial Bank and Mr. Lalinda Kalubowila, Chief Executive Officer of GAIA Greenenergy Holdings exchange the agreement in the presence of representatives of the two companies.
