Jordan Islamic Bank (JIB), one of the subsidiary banking units of AlBaraka Banking Group (ABG), held an inauguration ceremony of its solar power station on 25 July. It was held under the patronage of Mr. Adnan Ahmed Yousif, Chairman of the Board of Directors of the Bank (JIB) and President and Chief Executive of Al Baraka Banking Group (ABG)—and in the prescence of the members of its board of directors.

The area of the project is 45 dunums, with the plant size being 20 thousand square meters above five hanager, and with an operating capacity of 2.7 megawatts peak. It is considered the largest rooftop project in the Hashemite kingdom of Jordan. The work on the plant took about nine months to completer—and it is estimated to have a 25-year lifespan. The total cost of constructing the plant is said to be $1.9 million, with a recovery period being one and a half years.

The plant was operational from 21 May onwards – and has produced about 800 KN of energy – saving approximately $321,000 in the process. A video of the station’s construction was also shown in the event. The plant is expected to cover 75% of the total consumption – of the all the Bank’s branches in Amman, Zarqa, Madaba and Balqua – and 100% of the consumption of the other 38 branches of the bank, that are not part of the head office. This was noted by Mr. Adnan Ahmed Yousif in his speech.

Mr. Musa Shihadeh, General Manager of JIB, and a member of the board of directors, stated: “This station comes in line with the strategic sustainability plan of our bank, relying on 50% of the bank’s consumption of renewable energy, protecting the environment , reducing the negative impact on it, and supporting the national economy through the Bank’s continued adoption of alternative energy-saving projects at its headquarters, to be the first Jordanian bank introduce solar energy to its business since 2013 to reach currently 21 branches. Work is underway to establish a station of energy generating in Irbid to cover the electricity consumption of JIB’s branches, and offices at the Northern Governorates (Irbid, Ramtha, Jerash, Ajloun and Mafraq), and it will be inaugurated early next year, God willing. JIB replaced traditional lightening units with energy-saving lightening units (LED), used Variable refrigerant flow (VRF) systems, installed water-saving tools in the bank’s buildings. Our bank also supported the national program to enable multiple parties (schools, mosques and others) to cover their needs of electricity with clean and inexpensive technology.”