Bahrain: Sustainable Energy Authority Established

 Image used for illustrative purpose. Palm Trees along King Faisal Highway in Bahrain. Getty Images
Image used for illustrative purpose. Palm Trees along King Faisal Highway in Bahrain. Getty Images
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Bahrain: Sustainable Energy Authority Established

 Image used for illustrative purpose. Palm Trees along King Faisal Highway in Bahrain. Getty Images
Image used for illustrative purpose. Palm Trees along King Faisal Highway in Bahrain. Getty Images

Bahrain's King Hamad bin Isa Al Khalifa issued Thursday a royal decree appointing Dr. Abdulhussain bin Ali Mirza as the president of the Sustainable Energy Authority (SEA).

The authority, affiliated to the Cabinet, will encourage more investments in the sector and conduct a comprehensive assessment to raise efficiency and develop a general policy.

SEA will also make proposals to set national sustainable energy goals in association with governmental and non-governmental entities.

Bahrain plans to provide around 5 percent of the electricity needs from the solar energy projects, which is equal to around 250 MW by 2025. Bahrain’s output totals around 3,920 MW daily from the natural gas stations.

The decree also stipulated the authority’s tasks such as proposing a work-plan and determining the goals to enhance the efficiency of sustainable energy in addition to suggesting projects and initiatives by which sustainable energy sources are developed.

Some of the goals are to monitor the performance of the sustainable energy sector and to put economic and technical indicators on the level of achieving strategic goals and initiatives of sustainable energy and efficiency. Other goals are moving into a low-carbon economy.

The tasks also include directing the private sector and activating its role in maintaining sustainable energy in addition to inciting it to establish private or joint firms that aim to raise energy efficiency and use sustainable energy sources to generate electricity.



Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month

Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month
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Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month

Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month

Abu Dhabi-based MAIR Group, an investment firm active in sectors including food retail and commercial real estate, said on Thursday it would list on the local bourse next month.

The company, which operates over 100 stores in the United Arab Emirates (UAE) under the ADCOOP and SPAR brands, said in a statement the listing on the Abu Dhabi securities exchange (ADX) would take place on Dec. 9.

It did not disclose the amount of stock shareholders and employees plan to sell through the so-called direct listing, which takes place when a company offers shares to the public without going through a bank-backed initial public offering, Reuters reported.

As MAIR prepares to list "we are ready to amplify our impact, strengthen our foundations, and invite stakeholders to join our journey," Managing Director and CEO Nehayan Al Ameri said.

MAIR, which also manages more than 12 shopping centers through its commercial real estate division, booked revenues of 1.2 billion dirhams ($326.7 million) in the first half of 2024.

Last year, it distributed 135 million dirhams in dividends, equal to 12.11% of the share capital, to its over 12,000 shareholders.