BisB and the EWA organize solar financing event
20-February-2024
Bahrain Islamic Bank (BisB) and the Electricity and Water Authority (EWA) announced organizing a solar financing event which will offer financing solutions for solar energy services provided by EWA- licensed solar panel providers. The event is scheduled for February 24-25, 2024, at BisB Financial Mall in Hamad Town.
Spanning two days from 8 am to 5 pm, the event will host licensed solar panel providers showcasing solar energy solutions and engaging with potential customers at the Financial Mall. Representatives from EWA will also be present to address customer inquiries. Seven leading companies licensed by EWA, including Abdulrahman Al Moosa Contracting, Synergy Solar, Almoayyed Trading and Contracting, Alkomed Engineering Services, Al A'ali Engineering Consultants, Enova Solar Services, and Solartecc Green Energy Factory, will be featured at the event.
Each participating entity will have a dedicated pavilion to exhibit their products, services, and exclusive solar energy-related offers. BisB will also showcase its financing solutions with competitive interest rates and exclusive benefits at its pavilion. Aimed at individuals and companies seeking support in adopting solar energy sources, the offerings allow customers to apply for financing or benefit from the services and offers provided by the participating entities.
His Excellency Engineer Kamal bin Ahmed Mohamed, President of EWA said: “We are delighted to take part in this event which is aligned with the government’s directive to promote natural energy sources like solar energy and encourage their adoption by citizens and residents to position Bahrain as a leading nation in clean energy use.
Mr. Yaser Alsharifi, Chief Executive Officer of BisB, stated: “This event reflects our dedication to providing innovative financial solutions tailored to our customers' needs. We take pride in our collaboration with EWA to introduce solar energy solutions through licensed solar panel providers, enabling customers to benefit from sustainable options with attractive financing solution. Furthermore, this event showcases BisB’s unwavering commitment to integrating Environmental, Social, and Governance (ESG) principles throughout our operations.”
The initiative comes as part of the Bank’s commitment towards preserving the environment, as well as its efforts to encourage the use of and investment in alternative energy resources, particularly solar energy.
EWA's commitment to innovation and smart solutions aims to elevate standards of excellence, encouraging the utilization of alternative energy sources by individuals and organizations. With a focus on increasing the percentage of renewable energy in the overall energy mix, EWA targets a 5% increase by 2025 and 10% by 2035, supporting the national goal of enhancing clean energy utilization.
The promotion of solar energy usage by EWA mirrors the government's strategy of investing in and diversifying energy resources for community benefit. This initiative underscores EWA's commitment to achieving Sustainability Development Goal (SDG) 7, which emphasizes providing affordable and clean energy to developed nations.
BisB offers a comprehensive range of banking solutions through its network of 8 branches, in addition to its digital services available on its mobile application and website. The Bank’s various innovative and simplified financial products and services aim to meet the needs of its customer base, providing them with an unparalleled banking experience across all platforms.