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INVESTBANK Signs Agreement for Photovoltaic

Mon, 08/03/2015

INVESTBANK, the leading bank in providing innovative banking solutions, and ETA-Max Energy & Environmental Solutions signed an agreement to provide the headquarters of the bank with about 75% of its energy needs through the use of photovoltaic cells.

The agreement was signed by the Bank’s CEO Muntaser Dawwas, and for ETA-max Company by its Chairman, Dr. Mohammed Al Dido. The agreement includes the supply and installation of a photovoltaic system of 425 kilowatt peak capacity. Dawwas stressed the importance of this agreement, saying: "We are proud to be amongst the leading banks to adopt a photovoltaic system in Jordan, and the first bank to apply it at a large scale at our headquarters. Using clean energy is part of the Bank's vision and Corporate Social Responsibility, which are based on supporting the environment through using solar resources to generate clean energy.”

Dawwas confirmed that the Bank’s use of renewable energy is aligned with the energy sector goals in Jordan; so that renewable energy is expected to contribute to about 10% of the total energy consumed in 2020.

Generating electricity from solar energy is done through installing photovoltaic panels on umbrellas designed specifically for staff and clients parking. These panels will generate about 730 thousand kilowatts per hour on an annual basis, covering about 75% of the headquarters electricity consumption. This project will also contribute to the reduction of carbon emissions by about 335 tons of carbon dioxide annually.

ETA-max Company chairman, Dr. Mohammed Al Dido, praised INVESTBANK for its adoption of clean energy, saying, "This is a very important step towards reducing the electricity bill and achieving energy efficiency of the banking sector in Jordan. It will also contribute in reducing the power burden at a national level."

ETA-max Energy & Environmental Solutions is one of the leading companies in the Middle East in the field of photovoltaic systems, as it built and operates more than 3 Mega Watts of these systems for many government and private agencies using a highly specialized engineering staff that operates according to the highest international standards.