According to a news agency, Future Sun Renewable Energy Systems and Safwa Islamic Bank signed an agreement to provide JD70 million to finance a solar project in the industrial sector.
Future Sun shareholders will see a reduction of JD15 million in their annual electricity bills. This will increase the sector’s productivity, competitiveness, and export rates. The project has a 100-megawatt capacity and provides a maximum of 2 megawatts per shareholder for a duration of 18 months.
Future Sun Renewable Energy Systems was an initiative of the Amman Chamber of Industry. It aims to reduce electricity costs. In some sectors, it can reach 50% of total production and operational expenses.
Jordan’s industrial sector is made up of more than 18,000 businesses, which contribute to 20% of the country’s GDP.