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ACWA Power and GIC sign agreement for 2.7 GW CCGT power plant in Kuwait
- 14 hours ago (2026-02-06)
- David Flin
ACWA Power , Gulf Investment Corporation (GIC), and the Ministry of Electricity, Water, and Renewable Energy of Kuwait have signed an Energy Conversion and Water Purchase Agreement (ECWPA) to develop the $4 billion 2.7 GW Az-Zour North Phase 2 & 3 project in Kuwait.
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The consortium is led by the Kuwait Authority for Partnership Projects (60 per cent), ACWA Power and GIC (with a combined 40 per cent stake). It plans to build a 2.7 GW CCGT power plant and a seawater reverse osmosis desalination facility.
Construction will be carried out by a consortium led by SEPCO III. The project’s gas turbines will be supplied and serviced by GE Vernova , while ACWA Power will be responsible for the long-term O&M of the project throughout its 25-year term.
The project will use natural gas as the primary fuel for power generation, with gasoil as a back-up fuel. The Ministry and Electricity, Water, and Renewable Energy will purchase the total power and water capacity from the facility.