By: Middle East Utilities
Oman has taken a major step forward in its renewable energy ambitions with the signing of a power purchase agreement (PPA) for its first utility-scale solar and battery storage project.
According to Times of Oman, the agreement, worth OMR115 million ($299 million), was signed on Monday between Nama Power and Water Procurement (PWP) and a consortium led by Abu Dhabi Future Energy Company – Masdar, alongside OQ Alternative Energy (OQAE), Al Khadra Partners and Korea Midland Power Co. (KOMIPO).
The Ibri III Solar Independent Power Project (IPP) will combine a 500-megawatt (MW) photovoltaic plant with a 100-megawatt-hour (MWh) battery energy storage system (BESS).
As reported by Zawya, once operational the project will generate enough electricity to power approximately 33,000 homes while offsetting nearly 505,000 tonnes of carbon dioxide annually. It is also expected to contribute an additional 4 percent of renewable energy to Oman’s total electricity generation mix.
The signing ceremony was held under the auspices of Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals, who described the project as “a milestone in the Sultanate of Oman’s transition towards renewable energy.” Covering nearly 10 million square metres, Ibri III embodies the objectives of Oman Vision 2040 and supports the national target of Net Zero by 2050.
“This project reflects the confidence of our partners and investors in Oman’s business environment,” Al Aufi said. “It also sends an inspiring message that the Sultanate is steadily advancing towards a sustainable future, built on energy diversification, enhanced energy security, and strengthened competitiveness.”
Nama PWP Chief Executive Officer Ahmed Salim Al Abri emphasised the project’s role in enabling public–private partnerships and supporting small and medium enterprises through In-Country Value initiatives. “This project not only reaffirms our commitment to the energy transition but also provides a practical model of collaboration between the public and private sectors,” he noted.
Masdar CEO Mohammed Jameel Al Ramahi highlighted the project’s socioeconomic impact, stating: “This project will help Oman address the energy needs of today while creating new jobs, driving growth and preparing for the demands of tomorrow.”
https://www.utilities-me.com/news/oman-inks-solar-deal