Under the terms of the agreement, the bank will provide consultancy services for the project, Kuwait Times reports.
Construction of the plant will require a total investment of around KWD927m ($3.3 billion).
The technical team of the ministry is expected to float the venture for tendering under to the rules of Kuwait’s Public Private Partnership program, in collaboration with the Ministry of Electricity and Water.
The project is the first of its kind in Kuwait and will be developed in an effort to lower the country’s dependency on fossil fuels.
