KEPCO and United Real Estate Sign Investment Contract

Abu Dhabi National Energy Company (Abeqo) announced the signing of a contract to design, build, operate, and maintain an 8.77-megawatt photovoltaic solar energy system with United Real Estate, through its subsidiary Marasi United for Land and Real Estate Management and Development. The project will be installed on parking lots and building rooftops at the East Coast Corniche, one of Kuwait’s premier commercial destinations, marking a significant step toward solidifying 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 main developer of the East Coast Corniche. It is expected to reduce carbon dioxide emissions by approximately 189,000 metric tons. The solar plant’s output at the East Coast Corniche will be sufficient to power around 110 residential households annually. The emission reduction impact is equivalent to the carbon sequestration 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 percent of the national energy mix by 2030. The project provides clean energy solutions that not only help reduce carbon emissions but also enhance community well-being.

In this context, Dr. Hassan Qasim, Chief Executive Officer of Abu Dhabi National Energy Company (Abeqo), stated: “This collaboration embodies a promising model of strategic partnership among Kuwaiti private sector institutions. The project reinforces Abeqo’s position as a trusted partner in advancing the renewable energy sector in the region. The positive impact of this project extends to Kuwaiti society as a whole, contributing to diversifying 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, Mishaari Sulaiman Al-Muhilani, Chief Executive Officer of United Real Estate Group, noted that the project represents an important step toward enhancing the sustainability of national projects. He said: “This project falls within our strategic vision to integrate sustainability into our operational processes, in accordance 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 the East Coast reflects a long-term approach aimed at improving asset efficiency and transitioning toward clean energy sources.”