Algeria to Invite Bids to Build Three Solar Power Plants – Minister

Algeria plans to invite bids for construction of three photovoltaic solar power plants with total capacity of about 4,000 megawatts (MW), and several energy and financial firms are already interested, the energy ministry said.

Algeria, member of the Organization for the Petroleum Exporting Countries, has been exploring renewable energy as a way to meet growing demand for electricity, while also freeing up more natural gas for export.

Energy Minister Nouredine Bouterfa said in a statement late on Thursday the ministry would issue tenders for the three projects, without giving a specific timeline.

The three plants would help meet Algeria’s domestic demand for power and allow for exports of power to neighbouring countries, a source at the Energy Ministry told Reuters.

Several financial institutions, including the French Agency for Development and the African Bank for Development, have shown interest in funding the project, according to the Energy Ministry, calling it a “multi-billion dollar” project.

Sonatrach, Algeria’s giant state oil and gas firm, would fund about 50 percent of the cost of the three plants, a Sonatrach official said.

Last year, Italy’s ENI signed a deal with Sonatrach to develop renewable projects in Algeria.

U.S. firm General Electric had also shown interest in the solar plants with planned capacity of 4,000 MW, the Energy Ministry sources said.

Hit by a crash in revenues due to lower global oil prices, Algeria has been doubling efforts to increase gas exports after several years of stagnant production. Several new gas fields have come on stream in the past year.

Originally published by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialised units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

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Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

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Kuwait Starts Up Its First Solar Power Plant

Kuwait began operating its first-ever solar power plant on Wednesday at the Umm Gudair oil field, a landmark for the OPEC member country as it seeks to diversify its sources of energy to meet fast-rising local demand.

The 30-million Kuwaiti dinar ($99 million) project, Sidrah 500, will produce 10 megawatts (MW) of electricity, half of which will be supplied to the public electricity network.

The other half will be used to supply the oil field itself, which is owned by Kuwait Oil Company (KOC), a subsidiary of state-run Kuwait Petroleum Corporation (IPO-KUWP.KW) (KPC).

Kuwait announced plans last year to generate 15 percent of its energy needs via renewable sources by 2030.

Consumption of electricity is rising rapidly in Kuwait, as throughout the rest of the Gulf region. The country’s electricity and water minister estimated last year that demand would reach 30,000 MW per day by 2030.

In a speech at the project launch, KOC chief executive Jamal Ja’afar told reporters that Sidrah 500 represented the country’s first step toward that goal.

“We hope that by 2020 we can make 20 percent of the electricity which will be needed to run KOC from alternative energy,” he said.

The opening of the plant follows increased interest in renewables in Kuwait and across the Gulf region in recent years, as the scale of the consumption challenge has become clear.

The Kuwait Institute for Scientific Research signed a contract last year with Spain’s TSK to establish the country’s first solar thermal energy plant, with a planned production capacity of 50 MW.

The institute’s Shaqaya initiative is also planning solar and wind projects in the northwest of the country.

Abu Dhabi-based green energy firm Masdar has invested more than $1.7 billion in renewable energy projects since it was established a decade ago. ($1 = 0.3028 Kuwaiti dinars).

Originally published by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialised units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
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The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

Kuwait to Raise Output to Compensate for Oilfield Closures – Business Consultancy by CWIIL Group

Kuwait will raise its oil output by 250,000-270,000 barrels a day by the end of the year to make up for production lost from two oilfields the OPEC member shares with Saudi Arabia that were forced to shut, a Kuwaiti oil industry source said.

The Khafji oilfield was shut last year for environmental reasons. It had been producing 280,000-300,000 bpd. The Wafra oilfield closed in May due to operating difficulties. US oil major Chevron operates the field on behalf of the Saudi government.

So far, extra output from Kuwait’s other fields has made up for around 200,000 bpd of the production lost from Wafra and Khafji, the source said, adding that Kuwait’s total output is almost 2.9 million bpd.

Kuwait has limited spare production capacity and has therefore been harder hit by the closures than Saudi Arabia. Kuwait’s production capacity is estimated at around 3.2 million bpd, compared to Saudi Arabia’s 12.5 million bpd.

In July, Kuwaiti media reported on a leaked a letter from Kuwaiti Oil Minister Ali Al Omair to his Saudi counterpart Ali Al-Naimi in which he said Riyadh would have to compensate for future losses arising from the closure of the Khafji oilfield.

These materials are not intended and should not be used as legal advice or other recommendation. If you need a legal opinion on a specific issue or factual situation, please contact a lawyer. Anyone using these materials should not rely on them as a substitute for legal advice.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all matters relating to investment ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Middle East & North Africa :
Email : mena@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.