Kuwait has approved plans for constructing a series of power generation facilities and other infrastructure related projects with an investment of KWD3bn ($9.9bn).
Tenders for these projects were submitted at the beginning of the month, reported Kuwait News Agency (KUNA).
The projects are designed to boost the country’s power generation capacity by 3,580MW, to help it meet the increasing demands.
Around 50% of financing for the projects is expected to be raised through stock market offerings, Reuters reported.
The projects include the development of a second phase of the gas-fired Az-Zour North power and desalinated water facility, which has an initial capacity of 1,800MW , first phase of the Khairan power facility which can generate 1,500MW using various fuels as feedstock.
The 280MW Al Abdaliyah power plant is also part of the investment. Kuwait Deputy Prime Minister Ansa Al Saleh said that the private and public sector firms will participate in the development of the projects.
In June, Kuwait oil minister Ali Saleh al-Omair said that the country intends to meet 15% of its power demands from renewable sources by 2030.
As part of this effort, the country intends to commission up to 100 solar-powered fuelling stations and plans to bring online the first facility by 2017.