APECO Signs 15-Year Solar Agreement for Souk Sharq
Updated: 54 minutes ago
Alternative Energy Projects Company (APECO) has signed a 15-year solar investment agreement with United Real Estate Company (URC), acting through its subsidiary Marasi United, to power the Souk Sharq complex in Kuwait. Announced on July 29, 2026, the deal covers engineering, procurement and construction of the system along with 15 years of operations and maintenance.
The installation will total 8.77 megawatts of photovoltaic capacity, spread across rooftop and carport structures at one of Kuwait’s busiest commercial destinations. APECO expects the system to generate clean electricity equivalent to the annual consumption of about 110 homes.
“This partnership represents a promising model of strategic collaboration between Kuwait’s private sector institutions,” said Dr. Hassan Qasem, CEO of APECO.
Rooftop and Carport Solar in Kuwait City
The project is expected to avoid 189,000 metric tonnes of CO2 emissions over its operating life. By combining rooftop and carport arrays, the design uses existing built space rather than open land, which suits a dense commercial site.
APECO and United Real Estate Target Kuwait Vision 2035
The agreement is tied to New Kuwait Vision 2035, the country’s plan to source 15% of its energy from renewables by 2030. Both partners framed the project as a template for private-sector participation in that transition.
“This project forms part of our strategic vision to integrate sustainability across our operations,” said Mishari Suleiman Al-Muhailan, Group CEO of United Real Estate Company.
