Saudi Arabia, Bahrain explore 2 GW solar project - report

Bahrain is in talks with Saudi Arabia to construct a 2-GW solar power plant, with the majority of the clean electricity to be allocated to the aluminium smelter Alba - Aluminum Bahrain (BHB:ALBH), chief executive Ali Al Baqali said.

Alba is grappling with energy-related challenges, resulting from the adherence to environmental, social, and governance (ESG) regulations and rising energy costs, Al Baqali said in an interview with Asharq.

The chief executive noted that the current high gas prices are particularly straining the company’s ability to manage operating expenses effectively.

Further details about the consultations with Saudi Arabia were not disclosed.

Alba's majority shareholder is Bahrain's sovereign wealth fund Mumtalakat with a stake of more than 69% while Saudi Arabia's Sabic Industrial Investment Co. holds 20.6% of the business. Alba owns the largest aluminium plant outside China which in 2023 produced 1.62 million tonnes of aluminium.

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