Wednesday 22 September 2021

Haytham Seyadeeh

NBB Group to install solar panels on select branches

MANAMA, July 27, 2021

National Bank of Bahrain (NBB) Group has announced that it is undertaking a new initiative to install solar panels on select branches of NBB and Bahrain Islamic Bank (BisB) across the kingdom. 
The new initiative, expected to be rolled out in the first quarter of 2022, will see the installation of solar panels at four branches, including NBB’s Istiqlal and Riffa Souq branches, as well as BisB’s Hamad Town and Arad branches, and is estimated to take six months to complete.
The total capacity of the installed panels measures 373KW, generating a combined 605,700 kWh of energy every year, saving up to 65% of power at some of the branches. This will serve to diminish the overall Group’s carbon footprint by reducing approximately 300 Tonnes of CO2 per year, while also optimising energy consumption and costs.
Haytham Seyadeeh, Head of Property, Procurement and Administration at NBB Group, said: “Environmental responsibility is a critical part of our strategy and has become deeply embedded into our culture, in line with our ongoing endeavours to operate more responsibly across the Group. Our efforts extend beyond the financial aspect as a bank, and today we are taking active steps towards preserving the environment in which we operate, and, ultimately, enhancing our customers’ overall wellbeing. As the leading banking Group in the Kingdom, we consider it our duty to increase awareness on ESG and lead by example as we maintain our focus on customer-centricity in all its forms.”
NBB Group aims to create awareness about the use of solar-powered systems, which derive clean, pure energy from the sun, and decrease dependency on energy produced by coal, natural gas and fossil fuels, which are the leading cause of air and water pollution, endangering human life.-TradeArabia News Service


More Finance & Capital Market Stories

calendarCalendar of Events