KDIPA gives nod for establishment of Green Energy Cloud Trungnam Company
The Kuwait Direct Investment Promotion Authority (KDIPA) has approved the establishment of Green Energy Cloud Trungnam Company, a limited liability company with a capital of 100,000 Kuwaiti dinars.
The company, according to Al-Jarida daily, will be based in Kuwait and will specialize in the construction and operation of renewable and alternative energy generation plants.
Under its articles of association, the company may establish branches and agencies both inside and outside Kuwait. The duration of the company is set for 30 years from the date of signing its incorporation contract.
As outlined in Article Four, and in accordance with the provisions of the Companies Law and its Executive Regulations, as well as the Law on Encouraging Direct Investment in Kuwait (Law No. 116 of 2013) and its implementing regulations, the company is established for specific purposes.
These include the establishment and operation of renewable and alternative energy stations, along with the provision of technical consultations in this field.
The company is the result of an agreement signed between Al Sahab Energy Infrastructure Petroleum Services Company and Vietnam’s Truong Nam Construction Investment Company.
It has been set up in line with Companies Law No. 1 of 2016 and the investment regulations set by KDIPA, including the standards and guidelines issued by its Board of Directors.
The company is expressly prohibited from engaging in any activities listed in Cabinet Resolution No. 75 of 2015, which outlines sectors excluded from the provisions of the investment promotion law.
