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SEA President receives BNP Paribas delegation

March 7, 2021
finance & economy

Manama, Mar. 6 (BNA): President of the Sustainable Energy Authority (SEA), Dr. Abdulhussain bin Ali Mirza, received a high-level delegation from BNP Paribas bank, led by the Board of Directors Chairman of the Middle East and Africa, Jacques Michel, who was accompanied by the Head of BNP Paribas, Middle East and Africa, Amine Bel Hadj Soulami, and Head of Company Engagement CIB Middle East and Africa, Jérôme Ponrouch.

Dr. Mirza lauded BNP Paribas bank’s contributions and expansion of its investments in the fields of renewable and sustainable energy in the mega projects in the region, citing the UAE-based Al Dhafra solar power plant.

BNP Paribas won the consortium bid for the Al Dhafra PV2 solar project, the world’s largest single-site solar power plant with a capacity of 2GWp. BNP Paribas acted as sole Bookrunner, Documentation Bank, Mandated Lead Arranger and Hedge Provider. BNP Paribas also acted as the sole Equity Bridge Loan (EBL) Lender to EDF Renouvelables and Jinko Power, and EBL Facility Agent.

SEA President gave a presentation about the kingdom’s main achievements in the fields of renewable energy and energy efficiency, in addition to the projects and initiatives planned by SEA for 2021 in order to achieve the national goals set by the government in renewable energy and energy efficiency.

Dr. Mirza discussed with the bank’s delegation the prospects for joint cooperation with the bank in supporting investment in floating solar energy projects to overcome the limited space in Bahrain, in addition to the possibility of benefiting from the bank's world-leading experience in designing unique financial solutions and packages specially designed to encourage and support investments in renewable energy projects.

BNP Paribas bank’s delegation lauded the strides made by SEA, led by Dr. Mirza, to achieve the national renewable energy and energy efficiency goals.

They also highlighted the bank’s visions to support sustainable development efforts at all levels, particularly the financing of the renewable energy sector.

They said they were looking forward to enhancing cooperation with SEA to achieve the national renewable energy and energy efficiency goals so as to speed up the shift towards clean and sustainable energy, as the best means to keep up with the global efforts to ensure a sustainable future.