US$488mn loan for 300 MW green hydrogen and ammonia plant in Oman
ACME Group has secured a US$488 million loan financing from REC Ltd. for the development and construction of a Green Hydrogen and Green Ammonia project located in Oman.
The financial package will be used for the first phase of the green hydrogen facility that will be constructed at the Special Economic Zone (SEZ) in Duqm. The first phase will generate up to 100,000 tonnes of Green Ammonia annually and will be powered by solar photovoltaic farms.
The project will be eventually expanded to generate about 1.2 million tonnes per annum with about 3.5 GW of electrolyzer capacity, which will be powered by 5.5 GWp of the solar PV plant.
Country news
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May 31, 2022
Synergy to provide financial advisory services for 300 MW Hydrogen facility in Oman
Synergy Consulting has announced that it has been selected as a Transactional and Financial Advisor by a joint venture between ACME and Scatec ASA.
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March 27, 2020
Oman´s largest solar plant reaches financial close
A consortium consisting of ACWA Power, GIC, and AEPC have achieved the financial closure for the 500 MW solar photovoltaic (PV) Independent Power Project (IPP) at Ibri in the Sultanate of Oman, which is also the largest utility-scale solar plant in the country as of date.
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March 26, 2020
Acquisition of Oman Electricity Transmission Company
State Grid Corporation of China (SGCC) has completed the 49% equity acquisition of Oman Electricity Transmission Company (OETC) together with seller Nama Group. Oman Electricity Transmission Company operates as a transmission system provider in Oman.
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May 08, 2019
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).
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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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