Oman moves forward on new 500-MW solar project
MUSCAT, October 31, 2022 – Oman Power and Water Procurement Company has begun the procurement process for the proposed 500-MW Ibri III solar project, the state-owned procurement entity announced on Friday.
The new independent power project will be built in Al Dhahirah governorate adjacent to the existing 500-MW Ibri II solar facility.
The Ibri III plant is expected to come on line in Q4 2026.
The projected cost of the new facility was not disclosed.
The USD 401-million Ibri II project began operations in January 2022. It was built by Shams Ad-Dhahira Generating Company, a consortium consisting of Saudi Arabia’s ACWA Power with a 50% stake, Gulf Investment Corporation with a 40% stake and Kuwait-based Alternative Energy Projects Company with the remaining stake.
Oman plans to up its renewables capacity from its current 550 MW to 3.34 GW by 2027.
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