Kuwait though rich in oil builds solar plant

Kuwait, one of the world major oil producers, is now taking tangible steps to cut dependence on fossil fuel, with a key solar thermal plant to be built in Al-Abdaliya west of the country\'s capital. Latest move in this respect was declared on Thursday by Technical Office for Examining Development Projects and Initiatives, a department that operates under umbrella of the Ministry of Finance, which said in a statement that it signed a contract with HSBC to offer consultancy for the thermal solar plant, in the first such initiative offered by the private sector within realm of the state development strategy. 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 (one Kuwaiti dinar is traded at UaSD 0.283). The venture is the first in Kuwait\'s record by the private sector, according to Law 2008/7. Thae 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.