Plenti wins WA government mandate

ASX-listed Plenti Group has won a mandate from the Western Australian government to help the state accelerate the adoption of batteries.

Plenti has become the administrator and financier for Western Australia's Residential Battery Scheme, whereby eligible households can access rebates towards the cost of installing a solar battery system.

This amount is up to $1300 for Synergy customers and $3800 for Horizon Power customers.

No-interest loans for up to $10,000 will also be available to households with a combined gross annual income of less than $210,000.

WA premier Roger Cook said it joined forces with the Albanese government to expand the state's first-ever battery rebate scheme, ensuring tens of thousands of households can store the renewable power they generate at home, receive ongoing cost-of-living relief and help secure a clean energy future.

"The $337 million WA Household Battery Rebate and the $2.3 billion federal government Cheaper Home Batteries program will ensure around five times as many households can seamlessly access the complementary schemes than originally proposed under the state scheme," Cook said.

Plenti said it will work closely with the government, energy retailers and accredited vendors to facilitate access to the rebates and finance which will ultimately help participants looking to reduce their energy bills and carbon footprint.

Plenti chief executive Adam Bennett said: "With up to 100,000 rebates available, this is one of the most significant programs of its kind, and we're excited to facilitate its impact."

Plenti's appointment reinforces its position as a leader in financing household electrification, with a proven track record of delivering clean energy funding to households across Australia, he added.

The fintech lender launched in 2014 and offers automotive, renewable energy and personal loans.

The total loan portfolio consists of $2.5 billion. The renewable loan book has about $341 million.