Gulf consortium awarded a $400 million solar power project in Oman

Gulf consortium awarded a $400 million solar power project in Oman

Oman Power and Water Procurement Company (OPWP) has announced the award of a $ 400 million solar power plant project in Oman to a consortium of Saudi Arabia’s Acwa Power, Kuwait’s Gulf Investment Corporation and Kuwait’s Alternative Energy Projects Company.

The Omani company stated that the power plant is a BOO project aims at generating 500 megawatts. It will contribute to supply an estimated 33,000 homes with electricity in the state of Ibri and reduce carbon dioxide emissions by 340 thousand tons annually. The commercial operations of the plant are expected to commence in early 2021.

“The competition between the consortiums to win the tender reflects the confidence of regional and international developers in the renewable energy sector in Oman”, said Yacoub al-Kiyomi, chief executive of the company.

The company said that the tender was awarded conditionally after conducting a technical, financial and legal analysis of the bids submitted.

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