PAI, EQUATE, NTEC sign MoU for renewable energy project – Bid to fulfill vision of Amir

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Public Authority for Industry (PAI), EQUATE Petrochemical Company and National Technology Enterprise Company (NTEC) sign a Memorandum of Understanding for renewable energy project.

KUWAIT CITY, Nov 21, (KUNA): Public Authority for Industry (PAI), EQUATE Petrochemical Company, a global producer of petrochemicals, and National Technology Enterprise Company (NTEC) signed a Memorandum of Understanding (MoU) for a renewable energy project at the PAI, EQUATE said Wednesday.

The agreement includes EQUATE supporting the installation of a renewable energy facility on the roof of the PAI through NTEC. This MoU is in alignment with the vision of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah to generate 15 percent of Kuwait’s electrical demand from renewable energy including solar by 2030, EQUATE said in statement.

The agreement was signed by PAI’s Director-General Abdulkarim Taqi, EQUATE President and CEO Dr Ramesh Ramachandran and NTEC Group CEO Anas Meerza. During the event, Taqi said, “We highly recommend and encourage all and every initiative with regards to the efficiency of the energy and power sector that will eventually relieve the burden on Kuwait’s power supply. PAI’s future plans include developing clean energy units and its related technological aspects.”

For his part, Ramachandran said, “Throughout the years, PAI and EQUATE have enjoyed a partnership to ensure the development and progress of the industrial sector. The fl ourishing and growth of this collaboration, which now includes other partners, is part of making a difference in terms of implementing EQUATE’s sustainability strategy that focuses on economy, society and the environment, which covers renewable energy.” “We are looking forward to execute this project, which will play a role in conserving energy and protecting the environment,” he added.

In addition, Meerza said, “NTEC, being part of the public sector in Kuwait, is keen to bring and implement the upto- date technology in various domains and mainly the renewable energy. NTEC played a vital role to structure a state of the art setup and form a new model of the relationship and partnership among various sectors”.

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