$9.9bn is to be spent in improving Kuwait’s power generation capacity to help it meet the increasing demands.
The power generation facilities are targeted at boosting capacity by 3580 MW.
Tenders for the projects were submitted at the beginning of the month, reported Kuwait News Agency (KUNA). Around 50 per cent of financing for the projects is expected to be raised through stock market offerings.
The projects include the development of a second phase of the Az-Zour North power combined cycle gas-fired power plant and desalinated water facility, which has an initial capacity of 1800 MW, first phase of the Khairan gas-fired power facility which can generate 1500 MW using various fuels as feedstock.
The 280 MW Al Abdaliyah integrated solar combined cycle power plant is also part of the investment.
In June, Kuwait oil minister Ali Saleh al-Omair said that the country intends to meet 15 per cent of its power demands from renewable power sources by 2030. As part of this effort, the country intends to commission up to 100 solar-powered fuelling stations and plans to bring online the first facility by 2017.
[bc_video account_id=”” player_id=”” video_id=””]