Agreement signed to support financing of home solar panels in Oman

Efforts to encourage the use of renewable energy

Image used for illustrative purpose. KNPC has pre-qualified 28 global firms to bid for the 1.5-GW Dabdaba solar project.

Image used for illustrative purpose. KNPC has pre-qualified 28 global firms to bid for the 1.5-GW Dabdaba solar project.

Getty Images/Christy Strever / EyeEm

As part of its efforts to encourage the use of renewable energy, National Finance, the Sultanate’s largest finance company, has partnered with Nafath Renewable Energy, an Omani company specialised in renewable energy, to provide home solar power solutions.

The agreement was signed by Tariq al Farsi, Chief Executive Officer of National Finance, with Eng Abdullah al Saidi, Chief Executive Officer of Nafath Renewable Energy.

Under the agreement, Nafath Renewable Energy will provide solar photovoltaic (PV) systems for clients who are willing to install the system in their houses as part of National Finance’s recently launched Green Finance product.

This product comes in line with National Finance's ‘Imtidad’, an independent wing for the company's sustainable initiatives, through which the company aspires to add long-lasting value to people and the environment.

“We are delighted to join hands with Nafath. It is an innovative Omani company in the renewable energy industry.

The collaboration with them reflects our commitment toward supporting the national objectives of preserving the environment and diversifying energy sources. Furthermore, we aim to contribute to the In-country value by supporting national SMEs,” Tariq al Farsi commented.

Eng Abdullah al Saidi added: “The collaboration is aimed at encouraging consumers to consider solar energy to reduce their electricity consumption at home. We are proud of this strategic partnership with National Finance’s green solutions which endeavour to strengthen the Sultanate’s position as one of the leading countries in the solar power industry. We believe that together we can influence a positive change towards achieving Oman’s vision 2040.”

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