Alba secures BBK's sustainability financing for its Solar Farm Project

On March 12, 2023, in the company of senior officials from Alba and BBK, the agreement was signed at Alba's Al Dana Hall by Alba CEO Ali Al Baqali and BBK Group CEO Dr. A. Rahman Saif.

Alba's CEO Ali Al Baqali offered some words of wisdom on the matter:

"Our goals are broader than just the Aluminum we produce and the production methods we depend on. As the biggest smelter in the world outside of China, it is now our goal to serve the best interests of everyone involved, including but not limited to the people of Bahrain, the communities in which we operate, and the customers we serve.

The Solar Farm's installation exemplifies the interconnectedness of our climate strategy and our tale of value creation. Our green initiative was funded by a green loan from our banking partner, BBK, in accordance with our ESG strategy.

In order to achieve Bahrain's goal of Net Zero Emissions by 2060, each of our actions, no matter how minor, must be taken together.

In addition, BBK's Group CEO stated:

We commit to backing the Kingdom's all-encompassing plans to boost energy efficiency and guide the nation toward the use of alternative energy sources that advance sustainable development. BBK is helping Alba, one of the largest national industrial companies in the Kingdom of Bahrain, adopt cutting-edge practices for harnessing renewable energy. We are proud to back Alba in its efforts to pave the way for other banks and businesses to work together in the green industry by creating and implementing high-quality projects involving renewable energy sources.

Financing of this size will allow Alba to construct a Solar Farm with an output of more than 6 MW. (MW). Alba's parking garages and various other structures, including the Spent Pot Lining (SPL) Treatment Plant, cover a combined area of 37,000 square meters, and this Project will see the implementation of approximately 11,300 photovoltaic solar panels there.