APECO Signs EPC Contract for Solar PV Project at Souk Sharq, Kuwait

Alternative Energy Projects Co. (APECO) has signed an Engineering, Procurement and Construction (EPC) and Operations & Maintenance (O&M) contract with United Real Estate Company (URC), through its subsidiary Marasi United, to develop an 8.77 MW photovoltaic (PV) solar power system at Souk Sharq, one of Kuwait’s prominent commercial destinations.

The project will involve the design, engineering, procurement, construction, installation, commissioning, and operation and maintenance of a solar PV system incorporating both rooftop and carport solar installations at the Sharq Waterfront development.

The project represents a significant step towards integrating renewable energy solutions into Kuwait’s commercial real estate sector and is expected to contribute to reducing the environmental footprint of the commercial destination while supporting the country’s transition towards cleaner energy sources.

Under the 15-year investment agreement, APECO will deliver the solar PV infrastructure and associated services, enabling Souk Sharq to generate clean electricity from on-site renewable energy assets. The system is expected to produce sufficient clean electricity to meet the annual consumption needs of approximately 110 homes.

Over the project’s operational lifetime, the solar installation is expected to help avoid approximately 189,000 metric tonnes of CO? emissions, delivering a significant environmental benefit equivalent to the carbon absorption of approximately 600,000 mature trees, or the planting of more than 2.3 million new trees.

The project supports the objectives of New Kuwait Vision 2035 and the country’s renewable energy ambitions, including the target of increasing the share of renewable energy in Kuwait’s national energy mix to 15% by 2030.

The development is expected to contribute to the diversification of Kuwait’s energy mix, reduce reliance on conventional fossil fuel-based power generation, and promote the adoption of sustainable energy solutions across the country’s commercial and real estate sectors.

With the implementation of the 8.77 MW solar PV project, APECO and URC are further supporting Kuwait’s efforts to advance renewable energy deployment and strengthen the role of clean energy in the country’s long-term economic and environmental development strategy.