Kuwait signs contract with HSBC for consultancy for Al-Abdaliya CSP plant
Kuwait's Technical Office for Examining Development Projects and Initiatives has signed signed a contract with HSBC to offer consultancy for Al-Adbaliya Integrated Solar Combined Cycle (ISCC) plant, Kuwait's Kuna news agency reports.
The 280 MW plant will be built in Al-Abdaliya, southwest of the farming region of Kabad, at a projected cost of KD 926.75 million (one Kuwaiti dinar is traded at USD 0.283). The solar field, using parabolic trough technology, will account for 60 MW of total power.
The venture is the first in Kuwait’s record by the private sector, according to Law 2008/7. The initiating company has prepared feasibility studies of the unprecedented venture at the national level. The technical team is due to float the venture for tendering according to regulations of Kuwait’s Public Private Partnership (PPP) program, in cooperation with the Ministry of Electricity and Water.
The statement added that the venture would contribute to optimum utilization of the country natural resources, indicating that Kuwaiti share-holding companies would be established for its execution.
Moreover, it will be in tandem with the state approach to grant incentives for private-public partnerships and would contribute to meeting mounting demand for energy locally.