On August 12, a consortium formed by ACWA Power and Kuwait Gulf Investment Company (GIC) successfully obtained the right to develop the second and third phases of the Az Zour North Independent Hydropower Project (IWPP) in Kuwait. This flagship project, with a total investment of more than US$4 billion, will be the largest integrated energy facility in Kuwait.

The project has a planned total installed capacity of at least 2,700 megawatts, adopts a clean energy solution that combines liquefied natural gas and high-pressure natural gas, and is equipped with a fuel backup system. At the same time, the project will also build a desalination facility with a daily output of at least 120 million gallons, greatly increasing Kuwait's hydropower supply capacity.

"This project will not only significantly enhance Kuwait's energy security but also demonstrate our leadership in integrated energy solutions," said ACWA Power's CEO. "The project is expected to be fully operational in 2029 with an operating cycle of 25 years.

Notably, the project adopts an innovative public-private partnership model. The consortium will form a project company with the Kuwait Partnership Project Authority (KAPP), in which the consortium holds 40% of the shares. After the project is fully operational, 50% of the capital will be open to Kuwaiti citizens for subscription and listed on the Kuwait Stock Exchange to achieve national shared development dividends.

As a benchmark project in the Middle East's energy transition, Az Zour North IWPP will employ advanced technology to ensure efficient and environmentally friendly operations. The successful development of the project will further strengthen ACWA Power's leading position in the Middle East energy market and make an important contribution to regional sustainable development.(This article is from the official website of Jiandao www.seetao.com it must not be reprinted without permission, otherwise it will be investigated, please indicate the reprint of Jiandao.com + original link) See the Middle East column editor/Gao Xue