UAE to help tackle Kuwait's power supply crisis: report
The memorandum of understanding allows Kuwait to benefit from the UAE's 'vast' experience in solar energy, mainly through the Abu Dhabi-based Masdar , one of the largest renewable energy companies in the region.
The Arabic language daily Alqabas, quoting 'informed' sources in Kuwait, said the two partners in the six-nation Gulf Cooperation Council (GCC) have signed the MoU recently and that it focuses on cross-border renewable energy projects.
'This is a strategic MoU which aims to expand energy cooperation between the two countries and encourage investment in renewable energy projects,' the report said.
'The agreement coincides with Kuwait's efforts to resolve its power supply shortage…Kuwait hopes that this agreement will enable it to develop its power network in line with its renewable energy targets as part of the country's Vision 2035.'
Kuwait has been rationalising electricity consumption during summer due to the widening supply gap caused by a surge in domestic demand and the absence of major power projects.
In recent statements, Kuwait's Electricity, Water and Renewable Energy Minister Mahmoud Bushehri revealed plans to embark on large projects to tackle the power supply shortages, including construction of a solar power plant.
Bushehri said the new projects would allow Kuwait to attain its target of expanding the share of renewable sources to 30 percent of the total energy mix within the next four years and half the mix by 2050.
A government report warned early last year that Kuwait could suffer from a power deficit of more than 1,000 megawatts (MW) in the summer of 2024, which could worsen to nearly 2,000 MW and 2,500 MW in the summers of 2025 and 2026.
Masdar, which operates in several countries, is planning to build four solar power plants in Iraq with a combined generation capacity of 1,000 MW, the report said.
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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