Representatives of Madayn, Mubadrah and Solar Wadi ink deal for a 100-MW solar park in Oman. Image by Madayn.
Oman's Public Establishment for Industrial Estates – Madayn, its development holding Mubadrah and local renewables developer Solar Wadi have signed a deal to build a 100-MW solar park in Suhar Industrial City in the north of the sultanate which is expected to launch operations by next year.
The project is part of Madayn's strategy of meeting a significant portion of the energy needs of the businesses in the industrial city with green electricity and reducing the carbon footprint of the industrial sector in Oman, Madayn said on Tuesday.
The main developer of the solar park will be Solar Wadi.
With an area of 29.9 million sq m (35.76m sq yd), Suhar Industrial City is located in the Al Batinah North Governorate and is home to over 400 businesses in the marble, paper recycling, food, consumer goods, leather, furniture, resins, glass, steel bars, and engine oil industries.
The initiative is in line with Vision 2040, under which Oman is targeting to raise the share of green electricity to 20% by 2030 and to between 35% and 39% by 2040 in an effort to diversify its energy resources. A total of OMR 300 million (USD 780.2m/EUR 676.4m) will be invested to add 1 GW of solar capacity across the Gulf state.
Anna is a DACH expert when it comes to covering business news and spotting trends. She has also built a deep understanding of Middle Eastern markets and has helped expand Renewables Now's reach into this hot region.