Nogaholding, Hope Ventures, EWA power Beban by 100% renewable energy

TDT | Manama                      

The Daily Tribune – www.newsofbahrain.com   

The Oil and Gas Holding Company B.S.C. (nogaholding) partnered with Hope Ventures, the investment arm of Hope Fund and producers of entrepreneurship-themed reality television show, Beban, and Bahrain’s Electricity and Water Authority (EWA) to make Beban the first TV show 100% powered by renewable energy.

Beban TV show revolves around entrepreneurs pitching their businesses before a panel of regional investors for investment and strategic business opportunities.

The show highlights local success stories and creates a platform that accelerates local business growth to regional and international markets.

The partnership aims to promote sustainability and encourage alternative energy development throughout the Kingdom.

It is also linked to the Kingdom of Bahrain's commitments made at COP26, which aims to reduce carbon emissions by 30% through local projects and encourage the usage and development of renewable energy.

"I am excited to announce the partnership between Hope with nogaholding and EWA. Beban plays a key role in facilitating investment opportunities for promising businesses, which creates an impact that encourages entrepreneurship as a viable path, with the purpose of diversifying Bahrain’s national economy," Hope Fund Chairman Aymen bin Tawfiq Almoayed said.

Electricity and Water Authority President Kamal bin Ahmed Mohammed affirmed the Kingdom’s commitment towards renewable energy source development in alignment with the economic objectives of Bahrain Vision 2030.

"EWA is proud to be enabling Beban TV show to be powered by renewable energy while also showcasing the private sector as it co-invests in local entrepreneurs and takes part in their growth," he said.

Nogaholding Group CEO Mark Thomas said that nogaholding is devoted to ensuring energy security and diversification of energy sources as part of its new direction toward sustainable and responsible energy production," .

"This partnership aligns with nogaholding’s mission under the leadership and guidance of His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Works and Youth Affairs, Chairman of nogaholding," he said.