Nama Power and Water Procurement (PWP) has signed an agreement for the development of the Sultanate of Oman’s first utility-scale solar and battery storage project with the consortium of Abu Dhabi Future Energy Company: Masdar, Al Khadra Partners, Korea Midland Power Co. Ltd (KOMIPO), and OQ Alternative Energy (OQAE), with an investment of $299 million (RO 115 million).
Masdar, a global clean energy leader, will lead the consortium developing the Ibri III Solar Independent Power Project, which combines a 500-megawatt (MW) photovoltaic (PV) plant with a 100-megawatt-hour (MWh) battery energy storage system (BESS).
The scope of the project includes design, construction, ownership, financing, operation and maintenance of the plant and storage system. The signing ceremony of the power purchase agreement (PPA) for the project, was held under the auspices of Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals.
The Minister emphasized that the signing of the agreement represents a major milestone in renewable energy, both technically and economically. He added that it sends a strong message that Oman is steadily moving toward a sustainable future, driven by energy diversification, improved energy security, greater economic competitiveness, and a strengthened role as a regional hub for clean energy.
Ahmed Salim Al Abri, Chief Executive Officer at Nama Power and Water Procurement, said that, “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 synergize 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.
Al Abri highlighted that the initiative is part of national efforts to build a sustainable economic and social future. He noted that Nama Power and Water Procurement places strong emphasis on In-Country Value (ICV) and SME development by allocating a share of contracted works to local companies, supporting their growth, creating jobs, and reducing dependence on imports.
Mohammed Jameel Al Ramahi, Chief Executive Officer, Masdar, noted that, “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.”
