Capital Bank is a leader in Jordan in lending for renewable and alternative energy. The bank has financed several clean energy projects for over 20 years including hotels, schools, universities and various entities from the private sector.
Capital Bank was the premier bank in financing the first field in Jordan that generates 10 megawatts of electric power from solar power, the first manufacturer for photo-voltaic solar panels used to produce energy for the Irbid Electricity Company, and the first storage PV station using lithium batteries storing 10MW.
Capital Bank offers financing solutions to establish and support renewable energy projects through the Central Bank of Jordan Financing Programs at a fixed interest rate for 10 years, which include construction and installation of generating units of solar energy; construction and installation of generating units of wind power; purchase and installation of energy-saving equipment.
Capital Bank has also signed an agreement with the Jordan Renewable Energy and Energy Efficiency Fund (JREEEF) and the Jordan Loan Guarantee Corporation (JLGC) to finance renewable energy projects. The agreements will help speed up the implementation of projects supported by the JREEEF by providing the necessary funds to individuals and small- and medium-sized enterprises, mostly in the industrial and tourism sectors. The funding is presented without interest or commission, and the only requirement for borrowers is to repay the actual value of the loan within a maximum of six years for companies or 18 months for solar heater loans. This move comes in line with Capital Bank’s commitment to ensure the necessary funding for the exploitation of renewable energy sources and the rationalization of energy consumption within Jordan.