Muscat. Reaffirming its commitment to sustainability and innovation, ahlibank has signed an agreement with Nafath Renewable Energy LLC to install solar energy systems at its premises. 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 installation of 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. Notably, ahlibank will be one of the first in the Sultanate of Oman to adopt the 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.

The signing ceremony was attended by senior representatives from both organizations, with Taher Albakhsh Al Balushi, Senior General Manager of Strategy, Transformation, Technology, and Projects, at ahlibank, and Musab Al Farsi, Co-Founder and General Manager of Projects, at Nafath Renewable Energy, formalizing the agreement. This agreement underscores ahlibank’s commitment to fostering impactful partnerships with industry leaders who share its vision for sustainable development.

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. 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.

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 forward-thinking approach underscores the Bank’s commitment to building a greener future and aligning its operations with Oman’s sustainable development priorities. The newly installed solar energy system will be directly linked to one of the bank’s four utility meters, designated specifically for net metering. Excess energy generated will be fed back into Nama’s national grid, thereby contributing to broader environmental goals.

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. Additionally, the contribution of surplus energy to the national grid demonstrates ahlibank’s support for the country’s energy sustainability while encouraging other organizations to adopt innovative renewable solutions.

As Oman accelerates its transition to a sustainable future, ahlibank continues to reinforce its position as a leader in responsible banking. Through its proactive initiatives and strategic collaborations, the bank reaffirms its role in shaping a more sustainable and prosperous tomorrow, embodying the principles of ESG excellence at every step