View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
January 25, 2022

ACWA Power and partners inaugurate 500MW solar project in Oman

At its peak, the solar facility will generate enough energy to power 50,000 homes.

A consortium led by ACWA Power has inaugurated the 500MW Ibri 2 solar independent power project in Oman in partnership with the Oman Power and Water Procurement Company (OPWP).

Located in Ad-Dhahirah Governorate, Ibri 2 was built with an OMR160m ($417m) investment and developed on a build-own-operate basis.

It features almost 1.5 million bi-facial solar panels across an area of around 13 million square metres.

ACWA Power is the lead investor, holding a 50% stake in the project. Gulf Investment Corporation (GIC) holds a 40% stake in the project, with the remaining 10% owned by Alternative Energy Projects (AEPC).

At peak capacity, the solar facility will generate enough clean energy to power 50,000 homes while displacing 340,000t of carbon emissions a year.

ACWA Power chairman Mohammad Abunayyan said: “As a company that is driving the transition globally, we are extremely proud to play a key role in supporting the Sultanate of Oman’s ambitious Vision 2040 energy transition goals.

“Since our market entry into Oman in 2011, we have brought in significant foreign direct investment, because we believe strongly in its vision and future.”

Ibri 2 is the first solar independent power project to be opened under Oman’s national renewable energy programme. It is connected to the country’s main national grid.

The consortium will deliver the electricity to the national grid for the Oman Power and Water Procurement Company (OPWP) under a 15-year agreement.

In addition, the solar power facility will offer local graduates on-the-job training and job opportunities.

Local companies, including Taj Middle East and Diaa Energy, have been awarded contracts to build mechanical installations as part of the project supply chain.

Earlier this month, ACWA Power and the Azerbaijani Ministry of Energy held a ground-breaking ceremony for a 240MW wind power plant in Azerbaijan.

The wind facility is expected to help Azerbaijan meet its target of generating 30% of its power through renewable energy sources.

Related Companies

Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU