Alternative Energy Projects Company to increase its capital to fund its regional renewable energy growth
- Jul 8
- 2 min read
Updated: Jul 12
Alternative Energy Projects Company, a Kuwait-based renewable energy developer, announced plans for a capital increase to enhance its solar energy business in Kuwait and the MENA region.
The Company appointed Kamco Invest, alongside Burgan Bank, to manage the transaction, leveraging their financial expertise and investor networks. Kamco Invest will create a special purpose vehicle to participate in the capital increase, acquiring an equity stake and board representation to support the Company's growth strategy.
Established in Kuwait, the Company is a leading renewable energy developer with experience in solar projects across Kuwait, Jordan, and Oman, and is expanding its solar opportunities in the region.
The Company's business model is backed by long-term contracts, providing stability and aligning with the rising demand for clean energy solutions.
The capital raise aims to meet increasing demand for solar and hybrid solutions, especially in commercial and industrial sectors, amid geopolitical and power reliability concerns.
CEO Dr. Hassan Qasem stated the capital increase will accelerate project execution and regional expansion, leveraging the energy transition opportunities.
Partnering with Kamco Invest and Burgan Bank, the Company seeks strategic investors to support its vision.
Recent project wins in Kuwait and Oman demonstrate the Company's competitive edge and ability to secure projects. Its integrated power producer model and EPC capabilities position it for expansion in Kuwait, Saudi Arabia, Oman, and Jordan.
Ms. Dalal Jamal Al Shaya of Kamco Invest highlighted the opportunity to support the Company's renewable energy platform and its strategic position in the region's energy transition.
The MENA renewable energy sector benefits from declining solar costs, supportive policies, and rising demand, making solar energy a cost-effective power source.
Subject to approvals, the capital increase proceeds will support the Company's project pipeline, market position, and regional expansion.
