Please use a PC Browser to access Register-Tadawul
PRESSR: Alzayani Investments Group’s Euro Motors signs solar partnership with Positive Zero
BlackRock, Inc. BLK | 969.18 969.18 | -1.32% 0.00% Pre |
Ferrari NV RACE | 460.65 460.51 | -0.89% -0.03% Pre |
Dow Jones Industrial Average DJI | 42215.80 | -0.70% |
S&P 500 index SPX | 5982.72 | -0.84% |
NASDAQ IXIC | 19521.09 | -0.91% |
Manama, Bahrain – Euro Motors, the luxury automotive arm of the Alzayani Investments Group, has signed a renewable energy agreement with Positive Zero, the Middle East’s largest provider of decarbonization services and on-site solar power solutions.
The project in Sitra will entail the construction and development of a solar rooftop and carport, which upon completion is expected to have a capacity of 2.7MWp. This will generate 4.7 GWh of electricity per year, which is an equivalent amount of energy as the annual electricity used by 654 households.
The 25-year agreement will result in major environmental benefits, including the annual reduction of more than 3,100 tons of greenhouse gases. For comparison, almost 52,000 trees would need to be planted and grown for 10 years to have a similar level of impact.
Euro Motors Bahrain is the luxury car dealer for major car brands such as BMW, Rolls Royce, Ferrari, Maserati, Land Rover, Jaguar and MINI. Alzayani Investments Group has a wide portfolio of brands across different industries, underlining its position as one of the leading conglomerates in Bahrain.
Positive Zero will handle end-to-end build, financing, operations and maintenance of the solar rooftop and carport, ensuring Euro Motors can fully benefit from the environmental and economic cost savings.
Representatives present at the signing ceremony included Mohammed Abdulghaffar Hussain (Chairman, Positive Zero), David Auriau (CEO, Positive Zero), Laurent Longuet (CEO at Positive Zero’s Distributed Generation business, SirajPower), Rashid Zayed Alzayani (Managing Director, Euro Motors), Richard Gough (GM, Euro Motors), Rashed Hamed Alzayani (Managing Director, Midal Solar), and Khalid A.Latif (Chief Executive Officer, Midal Solar).
Discussing the new agreement, Rashid Z. Alzayani, Euro Motors Managing Director said, “We’re proud to launch this major new sustainability project with Positive Zero, which sets a new benchmark for Bahrain’s automotive sector. As the industry itself changes, we too must find novel and intelligent ways to give back to the environment. We fully support the government’s National Energy Strategy, as we reduce emissions and head towards net-zero by 2060.”
David Auriau, CEO Positive Zero said, “We are excited to collaborate with Euro Motors in decarbonizing their facilities. Our onsite solar infrastructure solutions will reduce Euro Motor’s operational costs and carbon footprint, setting a new benchmark for sustainability in the automotive Industry. With the support of Alzayani Investments, we look forward to further exploring our decarbonization-as-a-service offering across its businesses to accelerate the Group’s and the Kingdom’s clean energy transition.”
Speaking on behalf of Midal Solar (a subsidiary of Midal Cables), the Engineering, Procurement and Construction (EPC) contractor for the project, Managing Director Rashed Hamed Alzayani commented, “This initiative stands as a testament to the growing commitment of the Kingdom’s companies to integrate sustainable practices into their core operations. We are honored to serve as the EPC partner for this landmark project, and we look forward to leveraging our technical expertise to deliver a cutting-edge Tier-1 solar energy solution that advances both environmental responsibility and long-term economic value.
With a proven track record of delivering over 7.2 MWp of solar projects across the Kingdom, Midal Solar continues to play a leading role in the transition to clean energy, helping to reduce thousands of tons of CO₂ emissions each year. Our involvement in this project reflects our dedication to driving innovation, delivering impact, and supporting the Kingdom’s sustainability goals.”
To find out more about Euro Motors, visit euromotors.com/bh and to learn about Positive Zero, visit positivezero.com
Emissions savings figures and equivalents are based on international EPA standard calculations.
About Positive Zero
Positive Zero is the Middle East’s leading energy transition partner for businesses and communities. Founded in the region and with robust backing from our global partner BlackRock, Positive Zero is empowering a new energy economy where the decarbonization process is fast, simple and profitable.
We enable this by building, financing and operating on-site infrastructure across three core pillars: distributed power generation, energy efficiency services and clean mobility.
To date, Positive Zero has helped hundreds of businesses to generate power, use more efficient and smart equipment, and electrify and charge their fleets. With more than 200MWp in operation, we are the largest decentralized energy infrastructure provider in the region.
By using the latest technology, our strong balance sheet and an advanced data-driven approach we form long-term, scalable partnerships that deliver substantial cost and emissions savings. With no upfront investment required from our customers, Positive Zero is fully invested in every project we operate, while our partners make simple monthly payments for the energy and services used.
Take charge of your energy future - visit positivezero.com
For media inquiries please contact:
Carine Bouery
Head of Marketing
cbouery@positivezero.com
Jonathan Ivan-Duke
Partner, duke+mir
jon@dukemir.com
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.