Shamal Az-Zour Al-Oula Power and Water Company
KKSE:AZNOULA127.00
KWF
+1.00
(+0.79%)
Shamal Az-Zour Al-Oula Power and Water Company
KSE:AZNOULA
(Kuwait Stock Exchange)
Recent
price
127.00
P/E
ratio
- -
div
yld
4.03%
ROIC.AI
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- Business
- Shamal Az-Zour Al-Oula Power and Water Company K.S.C. (Public) is a Kuwait-based utility enterprise and independent water and power producer (IWPP) primarily engaged in the generation of electrical power and the desalination of seawater. Incorporated in 2013 and headquartered in Kuwait City, State of Kuwait, the company developed, finances, owns, and operates the Az-Zour North One Power and Water Plant located approximately 100 kilometers south of Kuwait City. The facility represents the first project established under Kuwait's public-private partnership (PPP) framework, delivering approximately 10% of the nation's total installed power capacity and 20% of its installed water desalination capacity. Operating within the independent power and water utility industry, the company sells its entire generation and production output exclusively to the Kuwait Ministry of Electricity and Water (MEW) pursuant to a 40-year long-term Energy Conversion and Water Purchase Agreement (ECWPA). The company's core product and service offerings comprise: bulk electricity generation generated through a 1,539.2-megawatt (MW) natural gas-fired combined-cycle power plant featuring five gas turbines, five heat recovery steam generators, and two steam turbines; potable water production delivering up to 107 million imperial gallons per day (MIGD) of high-purity distilled water produced through ten multiple-effect distillation (MED) evaporator units alongside an integrated potabilization system; utility infrastructure operations, comprehensive asset management, and specialized thermal plant maintenance services; and high-voltage grid interconnection and bulk water conveyance services integrated directly into Kuwait's national transmission network. In recent major corporate and operational developments, Saudi-listed energy transition leader ACWA Power finalized the acquisition of French multinational utility Engie's equity interest and operating assets in the Az-Zour North One plant, establishing a major strategic partnership alongside existing consortium partners Sumitomo Corporation, A.H. Al Sagar & Brothers, and Kuwaiti state entities including the Kuwait Investment Authority (KIA) and the Public Institution for Social Security (PIFSS). The company also reinforced its executive governance with the appointment of Fahad Gh. A. Alzuabi as Chief Executive Officer. Operationally, the company continues to implement major scheduled maintenance cycles, plant availability optimization programs, and environmental monitoring protocols across its CCGT and MED infrastructure, maintaining commercial reliability rates above 99% while strategically positioning its operations amidst broader national power and water capacity expansions at the Az-Zour utility hub.