Top utility developers in race for 500MW Oman solar project
Oman's Nama Power and Water Procurement Company (PWP) has announced that four utility majors - Abu Dhabi's Masdar; Saudi-based Acwa Power, French group EDF Renewables and Singaporean energy major Sembcorp Utilities - are in the race for the development of the 500MW Ibri III Solar IPP.
Nama Power said in response to its request for qualification last year, it had received 12 bids from both local and international developers.
Of these, nine had been either conditionally, or unconditionally qualified by the Omani group after a rigorous evaluation process. These developers were from Sultanate of Oman, UAE, Kingdom of Saudi Arabia, China, South Korea, Singapore, France, and Japan.
According to Nama Power, Masdar, Acwa Power and EDF Renewables have all submitted bids along with their consortium partners, while Sembcorp Utilities is bidding on its own.
The key solar facility, being set up at an investment of RO155 million ($401 million), will be located alongside the existing 500MW Ibri II project in Al Dhahirah governorate which has been operational since summer 2021. It is due for completion in the first quarter of 2027.
Now, on the final four, Nama Power said a consortium of Masdar, Korea Midland Power (Komipo) and Al Khadra Partners makes up the first listed bid, while a partnership between Acwa Power and TotalEnergies Renewables forms the second bid and consortium of EDF Renewables and Korean Western Power (Kowepo) forms the third listed bid. Sembcorp Utilities is the fourth one.
As the single buyer of power and water for all independent power projects in Oman, Nama 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.
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