Kuwait to build 280-MW CSP park - report

Sep 23, 2013 - Kuwait is planning to install a 280-MW concentrated solar power (CSP) plant in Al-Abdaliya, near the capital city, Kuwait News Agency (KUNA) said Thursday citing a government announcement.

Construction of the solar thermal power plant will require total investment of about KWD 926.75 million (USD 3.3bn/EUR 2.4bn).

According to a statement made by the country’s Technical Office for Examining Development Projects and Initiatives, controlled by the Ministry of Finance, Kuwait has struck a deal with British banking giant HSBC (LON:HSBA) to provide consultancy services for the project. The developer behind the project has already prepared feasibility studies.

The Finance Ministry's technical team is expected to float the venture for tendering, under to the rules of Kuwait's Public Private Partnership (PPP) programme, in collaboration with the Ministry of Electricity and Water, KUNA said. The project is the first of its kind in Kuwait and will be developed in an effort to lower the country’s dependence on fossil fuels. Kuwait aims to derive 10% of its total electricity mix from renewables by 2020.

(KWD 1.0 = USD 3.527/EUR 2.608)

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