Join our daily newsletter At The Bell to receive exclusive market insights
- Locality Planning Energy (LPE) has signed an agreement with fintech provider Plenti (PLT) for the LPE Solar Bank
- Under the agreement, Plenti will provide interest-free and green energy loans to LPE customers to drive the uptake of the LPE Solar Bank
- Initially, the LPE Solar Bank will be offered to LPE’s 4500 solar customers that do not currently have batteries installed and then to those that don’t have a solar PV system
- Customers will earn a monthly credit that is applied to their bill when their battery is used as part of a virtual power plant with other LPE Solar Bank customers
- LPE ends the day 4.35 per cent in the green with shares trading at 7.2 cents
Locality Planning Energy (LPE) has signed an agreement with fintech provider Plenti (PLT) for the LPE Solar Bank.
Under the agreement, Plenti will provide interest-free and green energy loans to LPE customers to drive the uptake of the LPE Solar Bank.
Initially, the LPE Solar Bank will be offered to LPE’s 4500 solar customers that do not currently have batteries installed.
The offer will then be expanded to LPE customers that don’t have a solar PV system and then out to the broader Southeast Queensland market.
Customers will earn a monthly credit that is applied to their bill when their battery is used as part of a virtual power plant with other LPE Solar Bank customers.
“We have created another win-win outcome for LPE and our customers. This partnership closely mirrors what LPE employed for strata customers through the creation of embedded networks resulting in tangible cost reductions,” Chairman Justin Pettett said.
“The LPE Solar Bank, in partnership with Plenti, enables LPE customers to pay off their system while reducing their grid electricity dependence.”
“More significantly, LPE can potentially double its margin on supplying grid electricity, together with receiving a supply and install fee, while reducing customers electricity costs. This has the potential to create significant value for shareholders.”
LPE has ended the day 4.35 per cent in the green with shares trading at 7.2 cents.
