Oman Power and Water Procurement Company (OPWP) has awarded a contract to ACWA Power-led consortium for the development of the largest utility-scale solar photovoltaic (PV) independent power project in the sultanate
The consortium, which also includes Gulf Investment Corporation (GIC) and Alternative Energy Projects Co (AEPCo), will build and develop Ibri-2 solar PV independent power producer (IPP).
To be developed on a build, own, operate (BOO) basis, the project includes the development, finance, construction and operation of the 500MWAC (megawatt alternating current) solar PV power plant.
Located around 300km west of Muscat, the project is expected to utilise solar PV technology to yield 500MWAC of power. At peak generation capacity, the plant aims to supply an estimated 33,000 homes with electricity and offset 340,000 tonnes of carbon dioxide (CO2) emissions a year.
Rajit Nanda, chief investment officer of ACWA Power, said that the project is in line with the company?s plan to expand clean energy footprints in the region.
Dr Hassan Qassem from AEPCo added that this project aims to provide solutions in renewable and sustainable energy requirements, further encouraging investment in these sectors.
OPWP awarded the project to the winning consortium following an international competitive tendering process that included 12 qualified bidders. ACWA Power is the lead investor in the project with a 50 per cent stake, whereas GIC will have a 40 per cent stake and AEPCo will control the remaining 10 per cent.
