Oman’s ahlibank has entered into an agreement with Nafath Renewable Energy to install solar energy systems at its facilities, reinforcing its dedication to sustainability and innovation.
This initiative is a milestone in the bank’s efforts to further its Environmental, Social, and Governance (ESG) objectives, solidifying its position as a responsible and visionary financial institution.
The initiative includes the installation of a state-of-the-art solar car park system on the rooftop of the head office car parking building, utilizing bifacial solar panels capable of capturing light from both sides, significantly increasing energy output.
This agreement underscores ahlibank’s commitment to fostering impactful partnerships with industry leaders who share its vision for sustainable development.
According to the statement, ahlibank’s collaboration with Nafath Renewable Energy, a pioneer in sustainable energy solutions, reflects the Bank’s commitment to sustainability as an integral part of its business philosophy and its strategic vision to adopt advanced technology enabling a positive change in the Sultanate.
Further, this collaboration aims to develop innovative and sustainable solutions that aim not only to address pressing environmental challenges but also to set new standards for responsible corporate practices.
Notably, ahlibank will be one of the first in the Sultanate of Oman to adopt cutting-edge technology-based solar panels. The proposed solar panel project is fully aligned with Oman Vision 2040 and its commitment to achieving net-zero carbon emissions by 2050, as it demonstrates a clear path towards a more sustainable and environmentally friendly energy future.
During the initial construction of the car parking structure, ahlibank strategically designed the infrastructure to accommodate future solar energy systems, complete with net metering capabilities.
This project also highlights the financial prudence of ahlibank’s sustainability strategy. By harnessing solar power, the bank not only optimizes its energy consumption but also achieves measurable cost savings, reinforcing the financial viability of its ESG-focused initiatives, as per the statement.
