February 5 (Renewables Now) - A consortium led by Japan's Marubeni Corp (TYO:8002) has signed a power purchase agreement (PPA) for the output of the 105-MW Amin photovoltaic (PV) project in Oman.
The specific project is a partnership between Marubeni, with a 50.1% stake, Oman Oil Facilities Development Co (30%), Bahwan Renewable Energy Co (10%) and Modern Channel Services (9.9%). The PPA with Petroleum Development Oman (PDO) was signed for a term of 23 years, Marubeni said on Tuesday.
The Japanese-Omani consortium won the bidding process to develop, finance, built, operate and maintain the solar independent power producer (IPP) project. To be located at Amin, southern Oman, the PV park will be the first large-scale solar plant in the country. It is slated to begin operations in May next year.
Marubeni noted the project is in line with its strategy to expand its renewables business globally, with a focus on the Middle East and North Africa (MENA) region, where it says “many large scale projects are in the works.”