Alternative Energy Projects Company (AEP), a Kuwait-based renewable energy developer and platform, today (July 8) announced plans to raise capital to fund the expansion of its solar energy business across Kuwait and the wider Mena region. 

AEP appointed Kamco Invest, in collaboration with Burgan Bank, to lead the transaction, bringing their regional financial expertise and investor relationships to support the company’s next phase of growth. 

As per the deal, Kamco Invest will be establishing a special purpose vehicle on behalf of its clients to participate in the capital increase by acquiring an equity stake in the company and securing a board representation, thereby supporting the execution of the Company’s growth strategy.

Unveiling its new renewable energy plan, CEO Dr Hassan Qasem said: "AEP has reached an exciting stage in its growth journey. We have built a strong platform with a proven operating model, an experienced management team, and a high-quality pipeline of projects across the region.”

“The capital increase will enable us to accelerate project execution, expand our regional footprint, and capitalize on the significant opportunities emerging from the accelerating energy transition across the region," he stated.

"We are pleased to partner with Kamco Invest in collaboration with Burgan Bank on this transaction. Their combined capital markets expertise, strong institutional relationships, and extensive investor networks will support us in attracting strategic investors who share our long-term vision," noted Qasem.

AEP had recently secured several competitive solar projects in Kuwait and Oman, further validating the strength of its pipeline, commercial competitiveness, and ability to convert opportunities into awarded projects. 

It is now pursuing additional commercial, industrial and utility-scale opportunities in Saudi Arabia, Oman, Jordan and Kuwait, he added.

A major player in the region, AEP develops, finances, builds and operates solar energy projects under long-term contracts with government and corporate customers, typically spanning 15 to 25 years.

The proceeds will be used to support the company's pipeline of solar and hybrid off-grid projects in Kuwait and across the region, where it operates in Kuwait, Oman and Jordan, it stated.

Dalal Jamal Al Shaya, Director of Private Equity at Kamco Invest, said: “We are pleased to structure the transaction and support the company as it advances its regional renewable energy platform. AEP’s proven operating model, long-term contracted revenue base, and strong project pipeline present a compelling opportunity to participate in the region’s energy transition.”

“Renewable energy has become a strategic infrastructure priority across the region, supported by favorable regulatory developments, growing energy demand, and ambitious national sustainability objectives,” she noted. 

“The company has built a differentiated platform with a proven ability to originate, develop, and operate high-quality solar projects, positioning it well to capitalise on these long-term market trends,” she added.-TradeArabia News Service