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Kuwait Finance House (KFH-Bahrain) will finance a solar farm project at Bahrain International Circuit (BIC). BIC is the home of motorsports in the Middle East region.
The solar farm was built and operated by Sakhir Solar, an IREC Energy Group Company. This project included the installation of 3.9 MWs of the solar power plant as well as solar car parking shades at BIC. Around 7,125 solar panels will be used to generate power.
Ranya Mohammed Rashid, Head of SME Banking at KFH-Bahrain, said, “This leading project is expected to deliver ample energy to power the entire Formula 1 Bahrain Grand Prix. This project comes as part of Bahrain’s commitment to urge all institutions to increase the use of renewable energy in the kingdom.”
“KFH-Bahrain has always been keen on adopting initiatives concerned with achieving sustainable development goals, by producing clean energy at reasonable prices, in addition to the goals of climate action. Hence, the funding for this project goes in line with our social responsibility commitment to support the kingdom’s march towards generating sustainable energy,” she added.
Dr Bassem Abdullah, Chairman of Sakhir Solar, said, “It gives us great pleasure to cooperate with KFH-Bahrain to finance the project of building a solar energy farm at the Bahrain International Circuit, which also supports the kingdom’s endeavours towards reducing carbon emission by generating clean and renewable energy. We look forward to continuing to enrich this partnership, and to engage in further initiatives and projects that benefit and elevate Bahrain.”
Moreover, Bahrain Gulf Air Grand Prix weekend energy requirements will be powered entirely by renewables. The new onsite solar production facility will support Formula 1’s plan to have net-zero carbon emissions by 2030. Further project phases will see Bahrain International Circuit’s annual energy needs met sustainably and entirely from renewable sources.