enLighten selects Verdia to manage funding solutions for lighting upgrades
Released: 24 August, 2016
A new entrant into the energy efficient lighting market has come along with an innovative strategy to encourage more users to cut their energy footprint and enjoy significant savings.
At enLighten Australia, we are very excited by the solutions that Verdia, arranging finance through Westpac and the Clean Energy Finance Corporation, will deliver. enLighten has selected Verdia to deliver significant savings to our customers.
Verdia in turn has approved enLighten and its products to be an Accredited Partner for it’s and Westpac’s client base. Verdia Accredited Partners are assessed for excellence in the quality of their energy efficient products and services and integrity in their operations.
enLighten CEO Steve Cahill welcomes the news. "The Verdia model of lowering the cost of finance to remove barriers for energy efficient solutions will make a great difference to our customers. We are excited to work with the Verdia team as an LED lighting equipment accredited partner and to be able to offer our project lighting customers access to long term, low cost asset finance."
The product and funding package brought together by this team will more easily enable Australia’s leading commercial, government and industrial organisations to identify, design and deliver energy efficient and renewable energy projects.
What are the opportunities for enLighten customers?
The overwhelming majority of our customers have paid for their own energy efficient lighting upgrade. Often this was despite financing packages being available.There were a number of reasons why commercial funding packages were not utilised in these upgrades.It might have been too expensive, too onerous, involving personal guarantees, dealing with an unknown financier or documentation overload.The Verdia program will address each of these issues and deliver an efficient product with a quality counterparty to our commercial, government and industrial customers.
- Finance can be arranged over longer terms, at a lower cost and with no upfront cash investment
- Energy cost savings typically exceed the monthly finance payments, providing an immediate cash flow benefit to the customer
- Customers can choose from a range of Westpac equipment finance options, to suit their business needs and accounting requirements
How do I apply?
An enLighten sales representative can take the customer through the finance application process on the spot via a Verdia Partner Portal App, which streamlines the application process.
The app guides the customer through the application steps, and can be used in real-time. It will help to choose a preferred finance option, select the required finance amount, calculate repayment amounts and Identify all the documentation required to submit the finance application.
Note that the finance agreement will be between Verdia and the customer or lighting project host. enLighten will not be a contracted party under the equipment financing deal. Customers do not need to be an existing Westpac customer to apply.
Verdia provides independent expertise and end-to-end support for organisations to identify and implement energy efficiency and solar energy projects. Verdia also works exclusively with Westpac on Westpac’s Energy Efficient Financing program, arranging long-term, low-cost asset finance.
Verdia was founded and is led by CEO Paul Peters, previously CEO of Opportunity International; and CFO Frank Paduch, former Group Head of Strategy at Westpac.
To find out more, visit www.verdia.com.au