Kuwait seeks to finance 7.5 GW of new capacity
Kuwait is seeking investors to fund three power projects totalling 7.5 GW under public-private partnerships (PPPs). The projects include Al-Zhour 2 & 3 (2,700 MW, LNG/fuel gas and oil), Al-Khiran (1,800 MW, combined gas) and Al-Shaqaya and Al-Debdiba (combined capacity of 3,000 MW, solar). The public-private partnership programme is expected to cover about 7,500 MW of 14,000 MW the country needs over the next 20 years. Kuwaiti or foreign strategic investors would own 26% to 44% of the projects, while Kuwaiti citizens would own 50% and the government the remaining stake. Kuwait expects the financial closing of the Al-Debdiba and Al-Shaqaya solar projects in 2026.
Kuwait has a total capacity of 21.2 GW (end of 2020), which is almost entirely thermal (12.8 GW of gas and 8.3 GW of oil). The total capacity has increased by more than 25% since 2014.
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