HSBC launches solar plant in Bahrain

HSBC will net a two-thirds (67 per cent) reduction in energy consumption at its Adliya Branch with the launch of a solar power plant that covers nearly 50 car parking spaces.

Inaugurated yesterday during a ceremony under the patronage of Sustainable Energy Authority president Dr Abdulhussain Mirza, the project saw the installation of solar panels in the car park and the roof-top of the building to generate renewable energy.

This is the second project of its kind for HSBC in Bahrain and translates to a 20pc estimated energy reduction for the bank’s operations in the kingdom which include Seef head office, Adliya branch and off site ATMs.

The project capacity is 175.5KW and improves the service and experience of customers while protecting the planet.

In his opening speech, Dr Mirza praised the leadership of the kingdom for supporting the Sustainable Energy Authority and the importance of the authority’s role in preparing and enabling the sustainable energy sector as a key pillar for diversifying the economy, driving sustainability and reaching national goals related to renewable energy and the environment.

He added that HSBC’s initiative as the first bank in the kingdom to set a clear goal of total reliance on clean solar energy in all its branches, confirm the commitment of the bank to transitioning to net zero by 2030.

Also present during the event were HSBC Bank Middle East head of international markets and HSBC Bank UAE chief executive Abdul Fattah Sharaf, HSBC Bank Middle East Africa chief operating officer Chris Hutton and HSBC Bank Bahrain CEO Chris Russell.

Commenting on the initiative, Mr Sharaf said: “In October 2020, HSBC Group announced its commitment to transition to a global net-zero economy. We’re doing this across the bank – in our operations and supply chain – and by supporting our customers in their own transitions. We believe that our commitment will open up a world of opportunity for our customers, communities and employees. It will lead to change that will encourage innovative thinking and new developments for a better sustainable future.”

According to Mr Russell, the achievement demonstrates that HSBC Bahrain is not only playing a part in supporting the transition to net-zero carbon economies, but also helping to lead it.

“We have a robust ESG agenda for the bank in Bahrain and will continue to inspire the much-needed change to set the pace for reform in our communities and for our customers,” he added.

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