Agreement signed for the largest utility scale solar project in Oman
A consortium composed of ACWA Power, Gulf Investment Corporation (GIC), and Alternative Energy Projects Co. (AEPCo) has signed the project agreements for the development of 500 MW Ibri-2 Independent Power Producer (IPP) with the Oman Power and Water Procurement Company (OPWP).
The project, to be developed on a BOO (build, own, operate) basis, includes the development, finance, construction, and operation of the 500 MWac solar PV power plant. The project will be located in Ibri, around 300km west of Muscat, and will contribute towards increasing power supplies in the Sultanate.
OPWP awarded the project to the winning consortium following an international competitive tendering process that included 12 qualified bidders. The winning consortium submitted the best economic tariff for the electricity that will be sold to OPWP. ACWA Power is the lead investor in the project with a 50 per cent stake, whereas GIC will have a 40 per cent stake and AEPC will control the remaining 10 per cent.
The project will be the first utility-scale solar power project in Oman and will utilize Solar PV technology to yield 500MWac of power. The innovative design of the plant will ensure the highest efficiency, reliability and availability standards for any comparable plant in the world. At peak generation capacity, the plant output will be enough to supply an estimated 33,000 homes with electricity and will offset 340,000 tonnes of carbon dioxide emissions a year.
The project will require an investment of USD 400 million and it is expected to be commercially operational by June 2021.
Country news
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March 18, 2019
Oman's OPWP award 500-MW solar project
Oman Power and Water Procurement Co (OPWP) on Sunday announced the awarding of Ibri II Solar Independent Power Project (IPP) to a consortium comprised of Saudi Arabia-based ACWA Power and Kuwait’s Gulf Investment Corporation and Alternative Energy Projects Co.
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November 14, 2018
MoU signed for 2 GW solar steam project in Oman
GlassPoint Solar and Occidental of Oman have signed a Memorandum of Understanding (MoU) to develop a large solar thermal energy plant, exceeding 2 GW, at the Mukhaizna oilfield in the Sultanate of Oman.
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October 30, 2018
Gulf Energy Development cements participation in US$480 million power project in Oman
Gulf Energy Development (GED) has announced that it has completed the acquisition of a 45% stake in Duqm Power Company (DPC) from the Oman Oil Company (OOC), a wholly-owned subsidiary of the Omani government. DPC has been established to develop a 326 MW independent power and water project in the Duqm Special Economic Zone of Oman.
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July 03, 2018
Oman starts RfP stage of 500 MW solar tender
A request for proposals (RFP) to the pre-qualified applicants of the 500 MW solar tender has been issued by the Oman Power and Water Procurement Company SAOC (OPWP).
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April 13, 2018
RFQ for unprecedented 1,200 MW coal project in Oman
The Oman Power and Water Procurement Company (OPWP) has issued a Request for Qualification (RFQ) for a clean coal-fired independent power project (IPP) with a capacity of 1,200 MW and located at Duqm, around 530km south of the capital, Muscat. This is the first IPP based on clean coal technology to be developed in the country.
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