500 MW solar PV plant to be built in Oman
The development of a 500 MW solar PV power plant follows after a consortium composed of ACWA Power, GIC, and AEPC executed the project agreements with OPWP.
Oman: The development of a 500 MW solar PV power plant follows after a consortium composed of ACWA Power, Gulf Investment Corporation (GIC), and Alternative Energy Projects (AEPC) have recently executed the project agreements for the development of Ibri-2 Independent Power Producer (IPP) with the Oman Power and Water Procurement Company (OPWP).
The project, located around 300 km west of Muscat, will be developed on a BOO (build, own, operate) basis.
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 % stake, whereas GIC will have a 40 % stake and AEPC will control the remaining 10 %.
The project will be the first utility scale solar power project in Oman and will utilise solar PV technology to yield 500 MW 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.
Source: ESI Africa
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