KOC in deal to link 1GW green energy plants to Kuwait power grid
KUWAIT, May 12, 2024
Kuwait Oil Company has sealed an agreement with the Ministry of Electricity, Water and Renewable Energy (MEWRE), for the linking of 1GW renewable energy plants to the national electricity grid.
KOC had earlier announced that it will be setting up the renewable energy plants (with a mix of solar and wind energy) to boost the power supply to the company's facilities.
The agreement was inked by Ahmed Jaber Al Eidan, the CEO of Kuwait Oil Company, and Maha Al Asousi, the acting undersecretary of MEWRE, in the presence of senior officials.
The MoU aims to coordinate between the relevant entities and overcome the challenges facing KOC and the MEWRE regarding the implementation of renewable energy projects.
Speaking at the signing ceremony, Al Eidan lauded the leadership for its support for the project and pointed out that it was part of the KOC's efforts to develop its operations in line with the vision of New Kuwait 2035.
Al Asousi said the new plants being built by KOC will help contribute to cutting carbon emissions and relieving the load on the national grid.
Under this deal, the duo will form a joint working team tasked with developing concepts and plans to implement the energy transition strategy and achieve carbon neutrality by 2050, she added.-TradeArabia News Service
