Phoenix Solar awarded an EPC contract by Jordan Ahli Bank

Phoenix Solar Overseas GmbH, a 100 per cent subsidiary of Phoenix Solar AG (ISIN DE000A0BVU93), a leading international photovoltaic system integrator listed on the official market (Prime Standard) of the Frankfurt Stock Exchange, and its partner Al Rokh, a subsidiary of Millennium Energy Industries (MEI), have been jointly awarded an order to build a 1.5 MWp power plant on behalf of Jordan Ahli Bank.

Jordan Ahli Bank, with headquarters in Amman, is one of the pioneering financial service providers to make use of the Jordanian “Power-Wheeling”-regulation. This innovative approach allows power generation in a location different from the consumption site, and is part of the Renewable Energy regulatory framework implemented in Jordan. This will enable Jordan Ahli Bank branch offices throughout the Hashemite Kingdom to use the electricity as generated by the photovoltaic power plant in a remote location.

Phoenix Solar will carry out all engineering, procurement and project management tasks while Al Rokh will take on the actual construction works. Phoenix Solar will also be responsible for the operation and maintenance of the power plant. During construction consulting firm E-Res Energy will act as representative of the Bank and Technical Supervisor.

Klaus Friedl, Vice President Sales Middle East at Phoenix Solar Overseas GmbH, underlined: “The Kingdom of Jordan continues to offer excellent conditions for companies to invest in renewable energy. The wheeling regulation in particular is very attractive for commercial consumers. Hotels, banks, hospitals and other businesses intend to invest in photovoltaic power plants to reduce their running costs. Together with our partners we already enjoy an excellent reputation for high quality delivery on time and on budget. This makes us confident that we will continue to expand our customer base and sales pipeline to further drive our growth in the region.”

E-Res’ Managing Director, Umberto Albarosa, said: “The project reflects the will of Ahli Bank to lead the transition to Green Energy in Jordan, with dedicated financial and technical solutions providing full support for the installation of autonomous solar power generation for Industries, commercial activities and for the residential sector.”