Engie, Total Energies, Acwa vying for $401m Oman solar project
MUSCAT, June 30, 2024
Oman's Nama Power and Water Procurement Company has announced that leading global and regional utility majors are in the race for the development of the 500 MW Ibri III Solar IPP being set up at an investment of RO155 million ($401 million).
Nama Power said in response to its request for qualification, it had received 12 submissions for qualification submitted by local and international developers.
Of these, nine applicants have been either conditionally, or unconditionally qualified by the Omani group after a rigorous evaluation process. The developers are from Sultanate of Oman, UAE, Kingdom of Saudi Arabia, China, South Korea, Singapore, France, and Japan.
These include global utility majors Total Energies, International Power (Engie); EDF Renouvelables and Korean Western Power (Kowepo) and Sumitomo Corporation; Jinko Power and Sembcorp Utilities as well as regional heavyweights - Abu Dhabi Future Energy Company (Masdar) and Saudi groups Acwa Power and Al Riyadh National Trading and Korea Midland Power (Komipo).
Nama Power said this is the fourth solar IPP that has been tendered by the group following Ibri II Solar IPP (operational since summer 2021) and Manah I Solar IPP and Manah II Solar IPP (under construction).
The company is working along with Ministry of Energy and Minerals and the Authority for Public Services Regulation to achieve the energy renewable targets set in Oman Vison 2040.
According to Nama Power, the procurement of this solar project was part of the sultanate’s government policy to diversify energy resources to meet the growing demand for electricity.
The implementation of this project will follow the successful precedent IPP model established in the sultanate and involves a fair and transparent competition process with the objective of awarding the contract to a highly qualified private sector developer with a view to deliver world class technology solutions to advance Oman’s renewable energy and energy resource diversification goals, it stated.
Nama Power is currently working to finalise the Request for Proposals which will soon be issued to the above-listed prequalified applicants upon receipt of the relevant approvals.-TradeArabia News Service
