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.



Spain Gives Green Light for Saudi STC to Raise Stake in Telefonica to 9.97%

STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo
STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo
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Spain Gives Green Light for Saudi STC to Raise Stake in Telefonica to 9.97%

STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo
STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo

The Spanish government has given the green light to Saudi Arabia's largest telecoms operator, STC Group, to raise its stake in Telefonica beyond 5% and reach 9.97%, Economy Minister Carlos Cuerpo said on Thursday.

Cuerpo confirmed an earlier report by El Pais newspaper during a news conference following the cabinet's weekly meeting in which the stake increase was approved, Reuters reported.

"Measures and conditions have been set and accepted voluntarily by the Saudi company to ensure that (the operation) takes place," Cuerpo told reporters.

He said the government's decision followed an "exhaustive analysis based not only on compliance with current legislation but also to guarantee the national interest in defense and ensure the strategic element in telecommunications".

Last year, STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder.

The Saudi group said at the time it owned a 4.9% stake in Telefonica and financial instruments giving it another 5% in what it called economic exposure to the company.

The Spanish government had to authorize the deal as Telefonica is considered a defence service provider and therefore a strategic company.

The Saudi company has said it does not intend to gain control of or a majority stake in Telefonica.