Latest news with #COFIDES
Zawya
2 days ago
- Business
- Zawya
Oman: Funding secured for Barka V desalination plant
Muscat: Madrid-headquartered GS Inima has secured financing to build a 6.3 MWp photovoltaic plant at the Barka V desalination facility in Oman, marking a significant step towards integrating renewable energy into critical infrastructure. In a statement, the company said the project aligns with its commitment to a sustainable water management model, particularly in regions like Oman where solar potential is high and water demand is critical. 'The financing of the Barka V photovoltaic plant culminates the development of this project, which began in 2022. In addition to reaffirming its environmental commitment, GS Inima optimises the profitability of the Barka V desalination plant project, 100 per cent owned by GS Inima and consolidates its presence in the Middle East. COFIDES' support in the investment of this project has been decisive and we want to express our gratitude to the entire COFIDES team that has collaborated with GS Inima during this phase of the project,' said Juan José Benayas, CEO of GS Inima Barka V Desalination Plant. The new solar facility, intended for self-consumption, will supply approximately 11 per cent of the desalination plant's energy needs through 2044. Spanning 40,000 square metres, the solar installation will be designed, built, operated and maintained entirely by GS Inima Barka V Desalination Co SAOC, a wholly-owned subsidiary of Spanish-based international water infrastructure company GS Inima Environment. Funding support came from COFIDES, a Spanish public-private entity that helps promote sustainable international investments by Spanish companies. Their backing was key to advancing the solar integration effort, which further cements GS Inima's presence in the Middle East. Barka V, which became operational in June 2024, is GS Inima's first project in the region. The plant produces 100,000 cubic metres of potable water per day — enough to serve more than 800,000 people in Oman's Muscat and Al Batinah South & North Governorates. This will be GS Inima's second project in Oman to incorporate solar power into the desalination process, reinforcing the company's role in pioneering hybrid solutions that reduce carbon emissions and enhance resource efficiency. The solar-powered desalination model is particularly relevant for Oman, where abundant sunlight, high temperatures and growing water demands make clean energy solutions both practical and strategic. GS Inima says the Barka V project will not only reduce the plant's carbon footprint but also contribute to Oman's broader sustainability goals. With this new milestone, GS Inima continues to expand its global leadership in integrated water cycle solutions, while promoting resilient infrastructure that supports long-term environmental and operational sustainability.
Observer
3 days ago
- Business
- Observer
Funding secured for solar project at Barka V desalination plant
MUSCAT: Madrid-headquartered GS Inima has secured financing to build a 6.3MWp photovoltaic plant at the Barka V desalination facility in Oman, marking a significant step toward integrating renewable energy into critical infrastructure. In a statement, the company said the project aligns with its commitment to a sustainable water management model, particularly in regions like Oman where solar potential is high and water demand is critical. 'The financing of the Barka 5 photovoltaic plant culminates the development of this project, which began in 2022. In addition to reaffirming its environmental commitment, GS Inima optimises the profitability of the Barka 5 desalination plant project, 100% owned by GS Inima, and consolidates its presence in the Middle East. COFIDES' support in the investment of this project has been decisive, and we want to express our gratitude to the entire COFIDES team that has collaborated with GS Inima during this phase of the project,' said Juan José Benayas, CEO of GS Inima Barka 5 Desalination Plant. The new solar facility, intended for self-consumption, will supply approximately 11% of the desalination plant's energy needs through 2044. Spanning 40,000 square meters, the solar installation will be designed, built, operated, and maintained entirely by GS Inima Barka V Desalination Co SAOC, a wholly-owned subsidiary of Spanish-based international water infrastructure company GS Inima Environment. Funding support came from COFIDES, a Spanish public-private entity that helps promote sustainable international investments by Spanish companies. Their backing was key to advancing the solar integration effort, which further cements GS Inima's presence in the Middle East. Barka V, which became operational in June 2024, is GS Inima's first project in the region. The plant produces 100,000 cubic meters of potable water per day—enough to serve more than 800,000 people in Oman's Muscat and Batinah regions. This will be GS Inima's second project in Oman to incorporate solar power into the desalination process, reinforcing the company's role in pioneering hybrid solutions that reduce carbon emissions and enhance resource efficiency. The solar-powered desalination model is particularly relevant for Oman, where abundant sunlight, high temperatures, and growing water demands make clean energy solutions both practical and strategic. GS Inima says the Barka V project will not only reduce the plant's carbon footprint but also contribute to Oman's broader sustainability goals. With this new milestone, GS Inima continues to expand its global leadership in integrated water cycle solutions, while promoting resilient infrastructure that supports long-term environmental and operational sustainability.
