Oman has signed a landmark agreement to build its first large-scale solar and battery storage facility, marking a major step in the country’s renewable energy drive.
Nama Power and Water Procurement (PWP) confirmed on Monday that it had entered into a deal worth RO115mn ($299mn) with a consortium led by Masdar to develop the Ibri III Solar Independent Power Project. The project will combine a 500MW photovoltaic plant with a 100MWh battery energy storage system.
The consortium also includes Al Khadra Partners, Korea Midland Power (KOMIPO), and OQ Alternative Energy (OQAE).
The signing of the power purchase agreement took place under the auspices of H E Salim Nasser al Aufi, Minister of Energy and Minerals. “We are pleased to celebrate the signing of the agreement for the Ibri III Solar Power Plant, a milestone in the Sultanate of Oman’s transition towards renewable energy. This strategic project, covering an area of nearly 10 million square meters with a generation capacity of 500MW, and battery energy storage system (BESS) capacity of 100MWh, embodies our commitment to achieving the objectives of Oman Vision 2040 and reaching Net Zero by 2050,” he said.
“At Nama Power and Water Procurement Company, we take great pride in collaborating with our strategic local and international consortium partners on the Ibri III Solar Power Project. This project not only reaffirms Nama Power and Water Procurement’s commitment to the transition towards renewable energy but also stands as a practical model of the Sultanate of Oman’s vision to synergise efforts between the public and private sectors in bringing about a qualitative transformation and state of art solution in the field of renewable energy and storage systems. It forms part of the national endeavours to achieve a sustainable economic and social future. Furthermore, Nama Power and Water Procurement attach great importance to In-Country Value (ICV) and the development of small and medium enterprises, through its ICV programme and the allocation of a share of contracted works to local companies, in order to ensure their economic growth, create job opportunities in the local market, and reduce reliance on external imports,” said Ahmed bin Salim Al Abri, Chief Executive Officer at Nama Power and Water Procurement.
Once fully operational, Ibri III will generate enough power to supply around 33,000 homes. The scheme is designed to support Oman’s goal of sourcing 30% of its electricity from renewables by 2030 and achieving net zero emissions by 2050.
Mohammed Jameel al Ramahi, CEO of Masdar, said: “Masdar is proud to lead the consortium developing the Ibri III Independent Power Project, which will support the Oman Vision 2040 objectives of diversifying the nation’s economy and energy resources. This project will help the Sultanate of Oman to address the energy needs of today, while helping to create new jobs, drive socioeconomic growth and prepare for the growing demands of tomorrow. Alongside our consortium partners, we look forward to working closely with Nama Power and Water Procurement and the Government of Oman in developing this project and delivering sustainable, secure energy to the people of Oman.”
The partners welcomed the agreement, with Ghalib Al Maamari, Acting CEO of OQAE commenting: “Today’s signing marks the beginning of OQAE’s committed involvement in all renewable energy projects to be procured for the national grid by Nama Power and Water Procurement Company. This milestone reinforces OQAE’s role as the national champion for renewable energy, strengthening energy security and maximizing the economic impact of Oman’s energy transition.”
Sheikha Hind Bahwan, Chairperson of Al Khadra Partners said: “We are delighted to be part of this transformative solar and battery energy storage system project. Together with our valued partners Masdar, KOMIPO and OQAE our consortium is united in a vision and commitment to deliver this groundbreaking project. This project will reinforce Oman’s leadership in the energy transition and create lasting environmental and economic value for the Sultanate of Oman and its citizens.”
“Korea Midland Power Co. Ltd is deeply honored to participate in the Ibri III solar and BESS project, a landmark initiative that reflects Oman’s commitment to expanding renewable energy. Building on our proven expertise in both thermal and renewable power generation since 2001, we will contribute to the successful delivery of this project by leveraging our global development and operational capabilities across the United States, Europe, and Asia. Through this, we will provide advanced technical know-how and operational excellence. Together with our consortium partners, we are committed to supporting the realization of Oman Vision 2040 and contributing to the nation’s path toward sustainable growth,” added Lee Young-jo, CEO of KOMIPO.
