Kuwait plans to sell a 50% stake in the Az-Zour independent power project through an Initial Public Offering (IPO) by the end of the year; the government initially planned to sell stakes in the project by mid-2017.
The 1,539 MW Azzour North One Independent Water & Power Project (IWPP), worth US$1.7bn, is the first IWPP project in Kuwait, which was commissioned in December 2016. The project is operated by Shamal Azzour Al-Oula (40% owned by a consortium of Engie, Sumitomo and A.H. Al Sagar & Brothers and remaining 60% owned by the Government of Kuwait). The facility has the capacity to generate 10% of Kuwait’s power consumption as peak capacity and can produce 20% of the country's water with 405,000 m3/day. Power and water will be sold to the Kuwait Ministry of Electricity and Water under a 40-year long-term Energy Conversion and Water Purchase Agreement. The project is part of an overall IWPP project in the Azzour area, to be developed over five phases, for a total capacity of 4,800 MW of electricity and approximately 1.1 mcm/d of desalinated water.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.