Acwa Power-led consortium wins Oman’s $400mn solar project
March 21, 2019 – The project involves the construction, ownership, and operation of a 500MW independent power plant
Oman Power and Water Procurement Company (OPWP) has announced that the contract to develop the $400 million Ibri II solar plant was awarded to a consortium led by Saudi Arabia’s Acwa Power. The consortium consists of Kuwait’s Gulf Investment Corporation and Alternate Energy Projects Company in addition to Acwa Power.
The project involves the construction, ownership, and operation of the 500 MW power plant which is expected to start commercial operations by 2021. The project will be implemented by the private sector and be able to power 33,000 houses once it begins operations. It will also reduce carbon dioxide emissions by about 340,000 tonnes per day.
OPWP’s chief executive officer, Yaqoob bin Saif Al-Kiyumi said that the globally competitive nature of bid proposals received by OPWP for this tender indicated a strong interest from global and regional developers, in the future of the renewable power sector in Oman. He added that this project presents strong opportunities to enhance local knowledge on solar project technologies and the specifics of implementing and managing such projects.
The Acwa Power consortium won by beating Japan’s Marubeni Corporation and Abu Dhabi’s Masdar following a competitive tender process and a detailed review of costs, legal implications and technical capabilities.