| Project Detail |
OBJECTIVE The objectives of the Project are to: (a) increase the availability of the renewable power generation capacity and improve the balance between supply and demand during the peak hours in Oman’s Main Interconnected System grid which serves Muscat and northern Oman. (b) reduce the dependence on gas and other fossil fuels for electricity generation and move to a more balanced and environmentally sustainable energy mix. DESCRIPTION The Ibri II Solar PV Independent Power Plant Project (the Project) is a 500 mega-watt greenfield solar photovoltaics power plant in Ibri, Oman which is being developed by Shams Ad-Dhahira Generating Company SAOC (the Borrower), a special purpose vehicle incorporated under the laws of Oman. Oman Power and Water Procurement Co (OPWP) awarded the Project to the consortium led by International Company for Water and Power Projects (ACWA Power) following a detailed financial, technical and legal evaluation of bid proposals received through international competitive tender. The Project is implemented under Build, Own and Operate model under a bilateral arrangement of offtake by OPWP for 15 years from the Scheduled Commercial Operation Date on June 1, 2021. The Power Purchase Agreement was signed between OPWP and the Borrower on April 30, 2019. |
