Alba PS5 Block 4 project reaches financial close

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Aluminium Bahrain (Alba), one of the world’s largest aluminium smelters, annunced reaching a financial close for its Block 4 of Power Station 5 (PS5) that will add 680.9 megawatts (MW).

“Once completed, the project will increase the nameplate capacity of PS5from 1.8GW to more than 2.4 GW,” said Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa, in a virtual signing ceremony with Sinosure yesterday.

Chief Executive Officer Ali Al Baqali, Chief Power Officer Amin Sultan, and Chief Financial Officer Bryan Harris joined the virtual ceremony.

Senior representatives, including Vice President Jie Li of SEPCOIII, President Wei Shaomin of Sinosure Shandong, and representative of BNP Paribas China and BNP Paribas Middle East, including their Head of Middle East and Africa, Amine Bel Hadj Soulami, were also present. Shaikh Daij said that this transaction “will pave the way for future collaborations between Alba, SEPCOIII and Sinosure.”

One of our key initiatives under our ESG Roadmap “Block 4 will support the Company in its efforts to decarbonise in line with the Kingdom’s goals to reach Net Zero Emissions by 2060 and reduce its overall GHG emissions by 0.5x once completed in Q4 2024.”

Chairman of SEPCOIII, Wang Li, pointed out that Block 4 of PS5 is the second large-scale EPC project contracted by SEPCOIII in the Kingdom and will make every effort to ensure the project to achieve all its goals. Sinosure Shandong Branch stated: “As the only official ECA institution in China, Sinosure support Chinese contractors to finance for the sponsors by providing buyer’s credit insurance.”

SEPCOIII, along with Mitsubishi Power, will design, engineer, procure, construct and commission the Combined Cycle Gas Turbine Power Block comprising M701JAC gas turbine, an aircooled version of J-series gas turbines and a steam turbine