Antai Solar has joined UOB (United Overseas Bank) Malaysia's U-Solar 2.0 as the sole solar mounting system supplier. The programme was launched to simplify access to sustainable financing for local solar engineering, procurement, construction and commissioning (EPCC) contractors and project developers.
U-Solar, which was launched in October 2019, is Asia's first integrated solar energy financing platform that powers the development and adoption of renewable energy across Southeast Asia. U-Solar 2.0 expands the program's offerings to industry players across the entire solar value chain, ensuring a smooth flow of financing with improved payment terms for solar contractors and developers. With Antai Solar's participation, U-Solar 2.0 will connect them to leading equipment suppliers across the region, covering from modules and inverters to solar mounting systems.
"This is designed to address cashflow issues and working capital gaps for developers and contractors who typically have longer projects receivable terms and may face short payment terms from equipment suppliers.
"With U-Solar 2.0, they will be able to finance the purchase of equipment and work on multiple solar projects simultaneously, speeding up the rate of solar adoption in the region," the bank added.
"As one of the approved equipment suppliers of U-Solar 2.0, our collaboration will allow us to connect with local solar contractors and developers seamlessly," said Vince Lim, Antai Solar Malaysia's country manager. "They will have access to financing and extended payment terms while being provided with our advanced solar mounting systems and solutions. This partnership will undoubtedly accelerate the growth of Malaysia's green sector, and we are excited to be a part of it."
Antai Solar holds a prominent position in Malaysia's solar market by offering top-notch racking and tracking systems for commercial and industrial (C&I) as well as utility-scale projects. Its expertise and industry experience make Antai Solar well-equipped to foster the proliferation of solar energy adoption in Malaysia. Additionally, Antai Solar intends to partner with UOB and other industry players in Thailand, Indonesia, and Singapore to drive sustainability initiatives in Southeast Asia and beyond, thereby benefiting its customers in the region.