Oman launches its largest renewable energy project – Construction Week Online

Oman launches its largest renewable energy project – Construction Week Online

Ibri Solar Project, the largest renewable energy facility of its kind in the Sultanate of Oman, was opened at a ceremony held in the Wilayat of Ibri, Governorate of A’Dhahirah.

The 500MW utility, which cost $403m (OMR155m), is listed among Oman Vision 2040 major projects aimed at optimising available investment opportunities and protecting natural resources, a report by Oman News Agency stated.

The project constitutes an authentic form of partnership between the public and private sectors. It embodies the Sultanate of Oman’s ability to attract direct foreign investments. Oman Power and Water Procurement Company, an arm of Nama Group, realized the project through contracts with a group of GCC investment firms led by ACWA Power, Gulf Investment Corporation (GIC) and the Alternative Energy Projects Company (AEPC) to set up, own and operate the plant.