The Business Year

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With Kuwait moving toward a cleaner and more sustainable future, companies are helping it along its journey with their new technologies and extensive know-how.

Hassan Qasem

CEO, Alternative Energy Projects Co. (AEPCo)

AEPCo is a dedicated renewable energy developer. We only function and operate with renewable energy assets. We heavily emphasize decarbonization and reducing our clients’ carbon footprint. We do not only provide financially viable solutions, but also build uptake plant work for our clients, helping them save money and reduce their carbon footprint. What we sell them is a clean source of energy. From that perspective, we are among the few unique companies in the region. We not only build power plants as utility power plants or government-owned facilities but also build small power plants for private enterprises. We can go to any major corporate and assign a long-term contract to sell electricity. This model is typical in the region, as BOT and BOO projects are popular. The problem in Kuwait is that there is no demand due to highly subsidized energy. The other reason is that the awareness of the requirement of carbon reduction or carbon footprint reduction is taking time to take root. Awareness of environmental requirements and factors is being developed. The government is aware of these limitations and addressing them is part of Kuwait’s 2035 Vision.

Hamad Al Radhan

CEO, Life Energy

Since 2019, we have been planning to expand beyond Kuwait and identified a need for our expertise supporting interest of investment entities to implement renewable energy projects worldwide. We have had the chance to interact with many projects, mainly on the power purchase agreement (PPA) side, and we have undertaken a substantial volume of work beyond the Gulf region. Kuwait started to work toward renewable energy faster than we had expected. I personally meet with many decision-makers to discuss their plans, and most are moving to renewables. The government has introduced a regulation for new buildings of public entities to produce 10% of the consumption of electricity with renewables. Today, there is a program for private entities offering discounts on electricity fees when tangible efforts are made to save energy. We are mostly focused on solar-generated energy, so with the increased interest here in Kuwait, we have returned to engage with the local market. Kuwait has a strategy of working with and supporting us locally, with the government leading the initiative. This has come as a big relief and a good opportunity to start looking at what we can do in the wider region.

Ahmed Hamada

General Manager, Green Energy

The oil and gas sector is the backbone of the country and accounts for about 96% of our GDP. We need to diversify with agricultural and other industries and create recycling, green construction. Oil and gas is an important sector, and it already has certain codes in place to support green solutions. If the sector had clearer targets and mission by participating in the green evolution, it could lead by example. We believe that it can indeed make a big change, but it must be part of their strategy. Instead of inviting an international company for a contract, the better alternative would be to include local businesses and strengthen the national market. Our focus is to come up with an elevated solution. We provide solutions based on the client’s needs. We collaborate with everyone, and each has their own requirements. We are focusing on having a diversity of solutions for the client such as a gray water system, smart meter system, electric vehicle chargers, and other aspects related to recycling. The government should push more and join the private sector in increasing awareness and developments toward a greener future for Kuwait.



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