Solar module. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.
January 24 (Renewables Now) - Oman is inaugurating today the 500-MWac Ibri II photovoltaic (PV) park in the northwestern governorate of Al Dhahirah, which represented an investment of about OMR 155 million (USD 403.1m/EUR 356m).
The solar complex will be launched by Oman's minister of interior Sayyid Hamoud bin Faisal al Busaidi, local media have reported.
The electricity from the park is fed into the public grid under a 15-year power purchase agreement (PPA) with Oman Power and Water Procurement Company (OPWPC). At peak capacity, the complex will generate enough electricity to supply 33,000 homes and offset 340,000 tonnes of carbon emissions annually. Located around 300 km (186.4mi) west of the capital Muscat, Ibri-II is the second grid-connected renewable energy park in the Sultanate after the 50-MW Dhofar wind park that went online in 2019.
The project is 50% owned by Saudi Arabia's ACWA Power (TADAWUL:2082) with the Gulf Investment Corporation holding 40% and the Alternative Energy Projects Co controlling the remaining 10%.
The Ibri II project supports Oman Vision 2040 and represents a turning point for other renewable energy projects. OPWPC is currently working on two solar plants of a combined 1,000 MW in the Al Dakhiliyah governorate in addition to wind projects in the Ash Sharqiyah and Al Wusta governorates, OPWPC's chief executive Yaqoob Saif al Kiyumi told state-owned Oman News Agency ONA.
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.