Wednesday, 8 July 2026
Alternative Energy Projects Company plans to increase its share capital to support the expansion of its solar energy business across Kuwait and the Middle East and North Africa (MENA) region.
The company has appointed Kamco Invest, in collaboration with Burgan Bank, to lead the transaction. Kamco Invest will also establish a special purpose vehicle on behalf of its clients to participate in the capital increase by acquiring an equity stake in the company and obtaining board representation.
Alternative Energy Projects Company develops, finances, constructs and operates solar energy projects and currently has operations in Kuwait, Jordan and Oman. The company is also pursuing additional commercial, industrial and utility-scale solar projects across the region.
According to the company, its projects are supported by long-term agreements, typically ranging from 15 to 25 years, with government and corporate customers.
The planned capital increase is intended to support the development of additional solar and hybrid off-grid projects, particularly within the commercial and industrial sectors. The company said it has recently secured several solar projects in Kuwait and Oman and intends to expand further into markets including Saudi Arabia.
Kamco Invest said the transaction is designed to support the company’s regional growth strategy and project pipeline. The investment firm noted that demand for renewable energy in the MENA region continues to be supported by national energy transition programmes, growing electricity demand and declining solar generation costs.
The transaction remains subject to the required approvals and completion of the capital raising process. According to the company, the proceeds will be used to finance new renewable energy projects and strengthen its position in regional markets.
