Foulath Holding is an industrial holding company with major steel investments, and it is the parent company of Bahrain Steel and SULB. It has announced a partnership with Yellow Door Energy, a leading sustainable energy developer in the Middle East and Africa, to launch a pioneering sustainability initiative to develop a large-scale 123 megawatt peak (MWP) solar project. This milestone project, developed under the power purchase agreement (PPA), includes the construction of the world's largest single-site rooftop solar power plant with a capacity of 50 megawatts. It will include a new 262,000-square-meter warehouse and the installation of 77,000 solar panels.

This news was released at the third premier investment forum Gateway Gulf, held at the Four Seasons Hotel in Bahrain. The forum was hosted by the Bahrain Economic Development Board and brought together global investors, business leaders, policymakers, and government officials from the Americas, Europe, Asia, and the Gulf region.

His Excellency Nour Bent Ali Al Khurayef, the Chief Executive Officer of the Bahrain Economic Development Board and the Minister of Sustainable Development, stated: "Today, the Kingdom of Bahrain stands at the forefront of sustainable global innovation. We are extremely proud of this transformative project - marking the world's largest rooftop solar power plant. This milestone not only consolidates our position as a regional leader in clean energy, but also demonstrates our dedication to building a resilient and sustainable future in line with our national vision of enhancing Bahrain's international competitiveness."

Mr. Meshary Al-Judaimi, the chairman of Foulath Holding, stated: "Over the past few years, Foulath has invested approximately 250 million US dollars in various sustainable development projects. These investments demonstrate our commitment to responsible operations, environmental management, and protecting the health and well-being of the community, thereby ensuring that industrial development proceeds in tandem with environmental protection. The solar project is a continuation of this commitment."

Sherif ElKholy, the Managing Director of Actis, the Head of the Middle East and Africa region, and the Chairman of Yellow Door Energy, said: "Congratulations to Foulath Holding and Yellow Door Energy on developing this landmark PPA to build the world's largest single-site rooftop solar power plant. I believe this project demonstrates how cost-competitive clean energy can drive industry development and set a new global benchmark for decarbonizing steel production. As a leading investor in sustainable infrastructure and a major shareholder of Yellow Door Energy, we are proud to witness this signing and look forward to seeing the birth of this transformative project."

As the world's largest industrial-scale on-site solar project, this 123-MWp site will include 10 rooftop solar photovoltaic (PV) plants and 4 ground-mounted solar PV installations. It is expected to significantly decarbonize the kingdom's steel production. The project has over 189,900 high-efficiency solar panels, covering an area of 707,000 square meters. Its goal is to generate 200 million kilowatt-hours (kWh) of clean energy in the first year of operation, effectively reducing 90,000 metric tons of carbon emissions. This plan will help achieve Foulath Holding's sustainable development goals and Bahrain's 2060 net-zero emissions target.