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Kuwait looks for pvt fund for power projects

Other Kuwait City 28 Sep 21
Kuwait looks for pvt fund for power projects
Kuwaiti looks for funds from private companies to ensure the country's power projects are suitably funded over the next 20 years.
Fee
Event Location
Kuwait, Kuwait
Area
Kuwait City
Start Time
28 September 2021, 12:00 AM
End Time
31 October 2021, 12:00 AM
Website

Kuwait is looking to secure billions of dollars from private companies to ensure the country's power projects are suitably funded over the next 20 years, according to Reuters.

Kuwait’s electricity capacity is estimated at 17,000 megawatts (MW), and about 14,000 MW are scheduled to be added over the next twenty years, according to Kuwaiti media.

The use of public-private partnerships (PPP) will be the key in delivering this increase, Fadheela Al-Hassan, head of the Kuwait Authority for Partnership Projects, told Reuters.

The PPP programme in Kuwait is based on the creation of public shareholding companies that carry out projects managed by a strategic partner, and the goods and services produced are purchased by the government.

According to the law, 50 percent of the shares of these companies is allocated to Kuwaiti citizens, while between 26 percent and 44 percent is allocated to a Kuwaiti or foreign strategic investor, and the government owns the rest.

Al-Hassan, who has been in the role since April, was reported as having said: “Energy projects are priority projects, and the state is moving forward towards their implementation.

Al-Hassan said the feasibility studies for the Al-Zour 2 & 3 and Al-Khiran projects had been completed “and they are in the process of being approved now” by the board of the authority as part of preparations to qualify under the PPP plan.

The “financial closing” of the Al-Debdiba and Al-Shaqaya project will be in 2026, including the awarding of strategic investors and the establishment of project companies, Al-Hassan added.

Kuwait power projects private companies



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