Shamal Az-Zour Al-Oula Power and Water Company K.S.C.P. Overview
Pro stress-test →Shamal Az-Zour Al-Oula is Kuwait's first privately-owned gas-fired combined cycle power and water desalination facility, established in 2013. The company listed on Boursa Kuwait in August 2020 and commenced full commercial operations in November 2016. It currently provides approximately 10% of Kuwait's installed power generation capacity and 20% of the country's installed water capacity.
Strategic Profile
Pro stress-test →The company operates under the legal framework of Independent Water and Power Projects (IWPPs) and Public-Private Partnerships (PPPs). Output is supplied to the country's national power and water grid under a 40-year long-term Energy Conversion and Water Purchase Agreement with the Kuwait Ministry of Electricity and Water. Ownership comprises 50% Kuwaiti citizens (distributed through a 2019 public offering) and 50% institutional investors.
Competitive Landscape
Pro stress-test →Shamal operates Kuwait's first privately-owned power and water facility. Competitors include state-owned utilities under the Kuwait Ministry of Electricity and Water and potential future IWPP phases. The company faces limited direct competition due to its monopoly position within the 40-year power purchase agreement, though it competes indirectly with future IWPP phases planned for capacity expansion.
Industry Context
Shamal Az-Zour Al-Oula Power and Water Company K.S.C.P. operates in Power Generation & Water Utilities.
Key facts
Founded: 2013 · Headquarters: Kuwait City, Kuwait · Employees: 201-500 · Revenue: N/A · Market cap: $160.6M