Locality Planning Energy (ASX: LPE) and Plenti (ASX: PLT) Partner for LPE Solar Bank – The Market Herald

• Locality Planning Energy (LPE) has signed an agreement with Fintech provider Plenti (PLT) for LPE Solar Bank
• Under the agreement, Plenti will offer interest-free and green energy loans to LPE customers to guide the acquisition of LPE Solar Bank
• Initially, LPE Solar Bank will be offering LPE’s 4,500 solar customers who currently have no batteries installed, and then to those who do not have a solar PV system.
• Customers earn a monthly credit applied to their bill when their battery is used as part of a virtual power plant with other LPE Solar Bank customers
• LPE ended the day 4.35 percent in the green with stocks at 7.2 cents

Locality Planning Energy (LPE) has signed an agreement with Fintech provider Plenti (PLT) for LPE Solar Bank.

Under the agreement, Plenti will offer interest-free and green energy loans to LPE customers to facilitate the acquisition of LPE Solar Bank.

Initially, LPE Solar Bank offered LPE’s 4,500 solar customers who did not currently have any batteries installed.

The offer is then extended to LPE customers who do not have a PV solar system and then to the broader Southeast Queensland market.

Customers 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 a different win-win outcome for LPE and our customers. This partnership closely reflects what LPE has accomplished for shift customers through the creation of embedded networks, resulting in concrete cost reductions,” said President Justin Pettett.

“LPE Solar Bank, in partnership with Plenti, enables LPE customers to pay for their system while reducing their mains power dependency.”

“More significantly, LPE could potentially double its margin on grid power supply, along with supply and installation costs, while reducing customer power costs. This has the potential to create significant value for shareholders.

LPE traded 4.35 percent in the green on the day with shares up 7.2 cents.