Win-win complexion
Dr. Abdul Hussain bin Ali Mirza, the Minister of Electric Power and water of the Kingdom of Bahrain, Dr. Adel Hubail, the CEO of BCFC, and Mr. Zheng Yi, the Sales Director of Asia Pacific Region of Suntech, attended the press conference.
Endorsement supports new business model
At the press conference, Mr. Zheng Yi, the Sales Director of Asia Pacific Region of Suntech made a speech to introduce the new business model of BCFC, namely, the Suntech, under the localization cooperation with BCFC, has invested the development of local distributed rooftop and industrial & commercial rooftop in a way of financing. In addition, Mr. Zheng Yi said that with years of development in the Middle East, Suntech has gained a great brand perception. As the exclusive photovoltaic module supplier to BCFC, Suntech would try its best to expand the market in the Middle East step by step.
Prospect of clean energy in Bahrain
The government of the Kingdom of Bahrain supports to use clean energy and to comprehensively develop various energies, and has established the sustainable energy center to promote to achieve the strategic target of the development of renewable energy. The government of the Kingdom of Bahrain has initially planned that the amount of clean energy shall account for 5% of total production by 2025, and 10% by 2035.
About BCFC:
Bahrain Commercial Facilities Company BSC was established on August 29, 1983 under Bahrain’s Commercial Companies Law 1975 (Legislative Decree No 28 of 1975), as a closed company with an authorized capital of BD 10,000,000 and issued capital of BD 5,000,000 with an objective to act as a specialist finance company in Bahrain. In April 1993, the Company was registered as a Public Shareholding Company. In 2003, the Company’s Memorandum and Articles of Association were amended in accordance with the Commercial Companies Law (21) of 2001 and its duration became indefinite, following a resolution of the shareholders passed at the Extraordinary General Assembly Meeting on 10 March 2003. The Company has an authorized capital of BD 50,000,000 and an issued capital of BD 16,335,000. Effective 26th June 2005, the Company became licensed and regulated by the Central Bank of Bahrain to operate as a financial institution.