Kuwait Oil Company signed a memorandum of understanding with the Ministry of Electricity, Water and Renewable Energy, aiming to coordinate efforts, continue cooperation and overcome difficulties regarding the project to produce 1 gigawatt of solar energy.

This project is a major step in Kuwait's efforts to achieve its climate goals. It pledged – at the COP27 Climate Summit in Sharm El Sheikh in 2022 and the COP28 Climate Summit in Dubai 2023 – to the necessity of taking the required measures to reduce greenhouse gas emissions and keep temperatures exceeding 1.5 degrees Celsius.

This memorandum comes within the energy transition strategy in Kuwait 2050, which aims to produce 15% of Kuwait’s electricity needs from renewable sources by 2050. The 1 gigawatt solar energy project is the first of this strategy; It represents approximately 6% of the total current electricity production capacity in Kuwait.

The project will contribute to enhancing the production capacity of the Ministry of Energy and Renewable Energy, helping it meet the growing needs in the country fueled by housing and commercial projects. The project will also ensure the continuous availability of energy, in line with Kuwait Oil Company's keenness to provide support for all economic and social sectors in the country.

The project is considered a major contribution from the Kuwaiti oil sector to enhancing energy sources for the country’s domestic consumption, and supporting the network of the Ministry of Electricity, Water and Renewable Energy in providing the country’s need of electrical energy.

The Kuwaiti oil sector is committed to producing 17 gigawatts of renewable energy by 2050. Which contributes to achieving carbon neutrality in the country.

The memorandum of understanding between Kuwait Oil Company and the Ministry of Electricity, Water and Renewable Energy is classified as an important step in the framework of Kuwait’s efforts to achieve its climate goals.

The 1 GW solar energy project will contribute to reducing greenhouse gas emissions, diversifying the energy portfolio, enhancing energy security, and creating new job opportunities.