AEPCo to develop Kuwait's first private-sector solar project at Souq Sharq

AEPCo has signed an agreement with United Real Estate Company (URC), through its subsidiary Marasi United, to develop an 8.77-megawatt photovoltaic system across the rooftops and carports of the Souq Sharq waterfront complex in Kuwait City. The project is believed to be the first of its kind in Kuwait's private sector.

Under the agreement, AEPCo will provide engineering, procurement and construction (EPC) services and operate and maintain the system for 15 years. The installation is expected to avoid approximately 189,000 metric tons of carbon dioxide emissions over its lifetime and to generate enough electricity each year to supply around 110 homes.

The solar system forms part of Souq Sharq's wider redevelopment under a 15-year Build-Operate-Transfer arrangement awarded to URC, with completion targeted by the end of 2027. The project supports New Kuwait Vision 2035, which aims for renewable energy to meet 15 percent of national power demand by 2030.

For AEPCo, the project marks a further step in expanding renewable energy adoption across Kuwait's commercial real estate sector - applying the same bankable structures, lender-grade delivery and long-term operational discipline that define the AEPCo platform.