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Renewcore Inks Bahrain’s First Solar PPA Agreement with MOE
Renewcore, a joint venture establishment of Almoayyed Solar and SEPCO III Bahrain, signed Bahrain’s first Power Purchase Agreement (PPA) with the Ministry of Education to develop a 1.62MW On-Grid Solar PV System through a Build-Own-Operate-Maintain (BOOM) model for the next 20 years.
The project has been organized by the Sustainable Energy Authority of Bahrain. The virtual signing ceremony was attended by His Excellency Dr. Abdul Hussain Bin Ali Mirza and the PPA was signed between the Minister of Education, H.E Dr. Majid bin Ali Al-Naimi and Mr. Mohamed Farouk Almoayyed, Chairman of Almoayyed International Group along with other company officials.
The 1.62 MW Solar PV System will be installed in the car park of Bahrain Training Institute and will save them approximately BHD 400,000 over its lifetime. Additionally, BTI will reduce its carbon footprint by 30,000 Tonnes over 25 years, which equals eliminating 440 vehicles off the road annually.