Oman’s largest utility-scale solar power project achieves financial closure – ZAWYA

Oman’s largest utility-scale solar power project achieves financial closure – ZAWYA

500-megawatt project is being developed by a consortium of ACWA Power, GIC and AEPC. A consortium consisting of ACWA Power, Gulf Investment Corporation (GIC) and Alternative Energy Projects Co (AEPC) has achieved the financial closure for Oman's largest utility-scale solar power project, it was announced on Tuesday.. Paddy Padmanathan, President and CEO of ACWA Power, noted that "achieving financial closure during these challenging times is a testament to the determination of all the stake holders in this project to keep doing the best we can within the constraints we all need to work within.". The 500 MWac Ibri II solar project will be able to supply an estimated 33,000 homes with electricity and will offset 340,000 tonnes of carbon dioxide emissions a year, the press statement said..