The Kuwait Sustainable Energy Conference and Exhibition
The future of Renewables Energy Industry in Kuwait
29 November 2015 to 2 December 2015
Jumeirah Messilah Beach Resort & Spa, Kuwait
Hashem Sayed Hashem, KOC CEO
Eng. Mohammad Boushehri, Undersecretary Ministry of Electricity and Water Kuwait
Very warm greetings to all of you this morning
It gives me great pleasure to welcome you all here today to this important platform "Kuwait Sustainable Energy Conference and Exhibition" to promote an effective fruitful discussions around various evolving experiences and technologies attached to the renewable energy developments and applications, besides, what are the lessons learned that can add value to Kuwait future projects.
Low oil prices have been a prominent feature of the market since the second half of 2014, and could stay lower for longer; posing a challenge to our industry, but providing an opportunity to structural reforms, to achieve long-term benefits for countries, that include expand investments in renewable energy for electricity production.
Renewable energy technologies will certainly play an important major role in addressing both issues – air pollution and carbon emissions, and it is more relevant as December's UN climate conference in Paris (COP21) is approaching, calling for a cut in global CO2 emissions.
The investments into renewable energy technology can be viewed as a long-term solution to the surging energy demand globally as well as locally, and hence, limiting pollution as well as emissions levels.
Domestic energy demand is growing at a high rate of 6 – 8% and indeed need to be rationalized.
We are strong believers that the renewable energy is a promising growing industry that can generate more jobs and improve overall productivity, and ensure the involvements of different parties including the private sector besides, contributing effectively to the diversification of the economy and to the energy efficiency.
Renewables especially solar photovoltaic have seen costs fall markedly in recent years, spurring rapid growth. Costs continue to fall, and the range of renewables' cost neutrality with thermal generation continues to expand.
His Highness the Amir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, called for 15% of Kuwait's energy mix to be comprised of renewable energy.
The Ministry of Electricity and Water hopes to achieve a rate of 10% of its national energy capacity through renewables by 2020 and 15% by 2030.
We consider the vision of Highness the Amir of Kuwait is a national commitment, despite the challenge it represents, to meet.
It is my firm belief that Kuwait's oil sector will contribute to translate His Highness the Amir's vision into reality.
Together with our strategic partners in the government as well as the private sector, I believe we will succeed in expanding energy production mix, we require in the 21st Century.
Renewable energy is our future choice. Adopting clean energy for our domestic power production is an obvious choice.
On one hand, it is economically sound and viable. Furthermore, renewable energy allows us to free up more of our hydrocarbons for export.
More importantly, renewable energy contributes to a cleaner atmosphere and healthier society.
Ladies and Gentlemen,
KPC 2030 strategic is the road map for us to execute mega projects inside and outside Kuwait on various aspects, to optimize revenue generation to the Kuwaiti Economy.
Some of the groundwork to turn this into reality has already been laid down, which includes gasoline stations, power plants, and transforming buildings to be green besides more other initiatives.
We have designed and submitted several renewables projects under the UNFCCC Clean Development Mechanism program.
As you will learn, in depth, from industry figures and specialists, who will speak later today and tomorrow, energy efficiency systems have been installed at a number of Kuwait National Oil Company (KOC), and Kuwait National Petroleum Company (KNPC) facilities.
This is in addition, to the many solar photovoltaic systems that are currently being utilized for a variety of oil operations, especially at KOC.
Together with Kuwait's Ministry of Electricity and Water, and Kuwait Institute for Scientific Research, Kuwait's oil industry has initiated a number of large-scale renewable energy projects that are geared toward producing 15% of our energy requirements.
The most exciting of these projects is the Shagaya Renewable Energy Park, which is a solar project that will be discussed at length over the course of this conference.
Kuwait has under taken significant steps towards enhancing its vital role in energy security. In addition, the protection and preservation of natural environment which remains one of top priorities.
This conference is a reflection of those concerns and serves to assist us in discovering new ways that sustainability and renewable energy can help us in those efforts.
I trust that participants' deliberations will assist us industry to better equipped to face future challenges.
Thank you for your attention