Bidders revealed for 500 MW solar project in Oman

Oman’s Nama Power and Water Procurement Co. received four bids from companies and consortia looking to develop the 500 MW solar project in Ibri, northwestern Oman.

Oman‘s Nama Power and Water Procurement Co. (PWP) has announced the companies and consortia that submitted bids to develop its 500 MW Ibri III solar project.

A social media post shared by the company, which is the single buyer of power and water for all independent power projects in Oman, lists four bids in the running to develop the project.

A consortium of Abu Dhabi Future Energy Company (Masdar), Korea Midland Power (KOMIPO) and Al Khadra Partners makes up the first listed bid, while a partnership between ACWA Power and TotalEnergies Renewables forms the second bid.

The third bid comes from a partnership between EDF Renewables and Korean Western Power (KOWEPO), while the fourth bid is from Sembcorp Utilities.

PWP kicked off the tender in January 2024. It received twelve submissions from local and international developers, with nine applications qualifying to submit proposals in June last year.

The Ibri III solar project, with an estimated project cost of OMR 155 million ($402.6 million), has a scheduled completion date of the first quarter of 2027. It will be located alongside the existing 500 MW Ibri II solar project, which was inaugurated in January 2022 after a 13-month construction period.

PWP launched its fourth solar tender, for a 280 MW plant, last December.

According to the International Renewable Energy Agency (IRENA), Oman had installed 672 MW of solar by the end of 2023. Towards the end of last year, Sembcorp Utilities began commercial operations at a 588 MW solar plant in northeastern Oman more than four months ahead of schedule. A 20-year power purchase agreement is in place with PWP.

The Omani government has set a target of adding around 4 GW of renewables capacity by 2030.