AMMAN () — Future Sun Renewable Energy Systems and Safwa Islamic Bank on Sunday sealed an agreement to provide JD70 million to fund a solar energy project for the industrial sector, the Jordan News Agency, Petra, reported.

The project is expected to save JD15 million in annual electricity costs for 84 Future Sun shareholders, which will enhance the sector's competitiveness, export rates and productivity. With a capacity of 100 megawatts, the project provides a maximum of 2 megawatts for each shareholder over a period of 18 months.

Future Sun Renewable Energy Systems is an initiative launched by the Amman Chamber of Industry (ACI), with the aim of cutting electricity costs, which, in some sectors, reaches 50 per cent of the total production and operational costs.

The industrial sector includes more than 18,000 establishments, contributing to about 20 per cent of Jordan’s GDP.

jordantimes