Alba bags financing loan from BBK for its 6 MW Solar Farm as a move towards Net Zero Emissions by 2060

Aluminium Bahrain B.S.C. (Alba), the world's largest aluminium smelter ex-China, has reportedly announced to have secured sustainable financing loan of BD 1.6 million from the Bank of Bahrain & Kuwait (BBK) for its Solar Farm Project.

The news came on March 12, 2023, after Alba's CEO Ali Al Baqali and BBK's Group CEO Dr A Rahman Saif signed the documents at Alba's Al Dana Hall in the presence of other senior officials from both parties.

Alba will utilise the financing loan in setting up its Solar Farm with a capacity of more than 6 Megawatts (MW), including the installation of about 11,300 photovoltaic solar panels on the rooftop of Alba car parks, Spent Pot Lining (SPL) Treatment Plant, and other buildings.

Ali Al Baqali said, "Our vision goes beyond the Aluminium we produce or the manufacturing processes we rely on. Our ambition today, being the largest smelter in the world ex-China, is to deliver what is best to all our stakeholders: our people, communities, customers and most importantly to the Kingdom of Bahrain."

He added, "Installing the Solar Farm reflects how our climate strategy ties into our value creation story. Teaming up with our banking partner, BBK, we were able to finance our green project with a green loan in line with our ESG roadmap. Every small step we take collectively will get us closer to meet Bahrain's objectives for Net Zero Emissions by 2060."

BBK's Group CEO said, "We pledge to support the Kingdom's comprehensive policies and programs that aspire to improve energy efficiency and steer the country towards the usage of alternative energy sources that promote sustainable development. Alba, one of the largest national industrial firms in the Kingdom of Bahrain, is being supported by BBK to implement state-of-the-art standards for the use of renewable energy. We are honored to support Alba in its mission to become a leader in developing and implementing high-quality projects involving renewable energy sources and to serve as an example of how banks and corporations may collaborate in the field of green."