LED street light project saves JD20m in annual energy bills — CVDB

AMMAN — The energy efficiency project is one of the most important projects being implemented to support municipalities in saving energy bills by replacing traditional street light units with energy-saving LED units, General Manager of Cities and Villages Development Bank (CVDB) Osama Azzam said on Saturday.

Azzam stressed that the project is carried out in cooperation with the Ministry of Local Administration, CVDB and the Energy Ministry, the Jordan News Agency, Petra, reported. 

The total cost of the project stands at JD65 million, he said, noting that the Fils Al Reef initiative of the Ministry of Energy and Mineral Resources will contribute JD5 million per year for seven years, covering half of the project’s cost. The remaining half is financed by CVBD as a loan to be repaid by the municipalities. 

The economic feasibility of the project results in around JD20 million in annual savings in energy bills, the Jordan News Agency, Petra, reported.

Azzam pointed out that energy costs constitutes around 20 per cent of municipal expenditures.

The project covers four regions of the Kingdom, he said, adding that the locally made light units are of high quality and were designed according to street capacity to serve the public and reduce traffic accidents.