June 22 (Renewables Now) - Some key agreements are to be signed soon for the delayed 50-MW wind project in Oman of state-owned Rural Areas Electricity Co (RAECO) and Abu Dhabi-based renewable energy firm Masdar, the Oman Observer said today.
Good news for the project in Dhofar Governorate are expected after the Eid holiday this week, RAECO CEO Saleh Nasser al Rumhi was cited as saying. The signing of the “formal agreements” would allow the project to finally move forward.
RAECO and Masdar signed a deal to jointly develop the project in the autumn of 2014. At the time they said the investment would amount to USD 125 million (EUR 112m) and that construction could start in the fourth quarter of 2015.
According to today’s report, RAECO will own the wind power plant upon completion. It will sell the power to Oman Power and Water Procurement Company (OPWP).