Marubeni-led consortium signs PPA deal with PDO for 105 MW Amin Solar PV IPP Project

Marubeni Corporation through a Special Purpose Company established with Oman Oil Facilities Development Company (OOFDC), Bahwan Renewable Energy Company (Bahwan), and Modern Channel Services (MCS), has executed a Power Purchase Agreement with Petroleum Development Oman (PDO) for the Amin Solar PV IPP Project.

The SPC (equity participation: Marubeni by 50.1%; OOFDC 30%; Bahwan 10%; and MCS 9.9%) will develop, construct, operate and maintain the Solar PV plant which has a capacity of 105 MW. The Schedule Commercial Operation Date (hereinafter, “SCOD”) is projected for May 2020, at which time the facility will start producing power which will be purchased by PDO for a 23-year term. Project Financing is also being arranged for this project.

This project will be the first large scale solar plant in Oman. It also marks Marubeni’s 2nd IPP in Oman, the first being the Sur Gas Fired Combined Cycle IPP Project (2,000MW) which has been in operation since 2014.