KEPCO and United Real Estate Sign Investment Contract to Supply East Al-Bahrain Corniche with a Solar Energy System

Abu Dhabi National Energy Company (Abeeco), the leading developer of renewable energy projects, announced the signing of a contract to design, build, operate, and maintain an 8.77-megawatt photovoltaic solar power system with United Real Estate, through its subsidiary Marasi United for Land and Property Management and Development. The system will be installed on parking lots and building rooftops at East Seaside, one of Kuwait’s premier commercial destinations, marking a significant step toward consolidating the presence of renewable energy in the country’s commercial real estate sector.

The project was developed in close collaboration with United Real Estate, the master developer of East Seaside, and is expected to reduce carbon dioxide emissions by approximately 189,000 metric tons. The solar plant’s output at East Seaside is sufficient to power around 110 residential households annually. The emission reduction impact is equivalent to the carbon sequestration capacity of approximately 600,000 large trees, or the planting of 2.3 million new trees over the project’s lifetime.

This initiative represents a crucial step toward establishing a new standard for private sector participation in Kuwait’s transition to renewable energy, aligning with the objectives of “New Kuwait 2035,” which aims to increase the share of renewable energy to 15% of the national energy mix by 2030. The project delivers clean energy solutions that not only reduce carbon emissions but also enhance community well-being.

Dr. Hassan Qasim, Chief Executive Officer of Abeeco, said: “This collaboration exemplifies a promising model of strategic partnership among Kuwaiti private sector institutions. The project reinforces Abeeco’s position as a trusted partner in advancing the region’s renewable energy sector. The positive impact of this project extends to Kuwaiti society as a whole, contributing to the diversification of national energy sources, reducing reliance on fossil fuels, and strengthening environmental sustainability efforts, in line with Kuwait’s aspirations for a more sustainable future.”

For his part, Mishaan Al-Mohilani, Chief Executive Officer of the Group at United Real Estate, noted that the project represents a significant step toward enhancing the sustainability of national projects. He stated: “This project falls within our strategic vision to integrate sustainability into our operational processes, consistent with United Real Estate’s commitment to best practices in environmental, social, and corporate governance (ESG) areas. The adoption of solar energy systems on parking lots and building rooftops at East Seaside reflects a long-term approach aimed at improving asset efficiency and transitioning to clean energy sources.”

Al-Mohilani concluded his remarks: “Abeeco was selected based on our strong confidence in its expertise and outstanding track record, as it is one of the leading companies in the region in developing renewable energy projects. The investment contract spans 15 years, starting from the project’s commercial operation date. This step marks the beginning of enhanced cooperation in diverse future investment projects that meet the growing needs of the renewable energy sector.”