A consortium led by Abu Dhabi-based renewables developer Masdar has been awarded the contract for the Ibri III solar independent power project in Oman.
The consortium, which also features Korea Midland Power (Komipo), Al Khadra Partners and OQ Alternative Energy, entered into a power purchase agreement with Oman’s Nama Power and Water Procurement Company (PWP) during a signing ceremony held earlier this week.
The Ibri III project will combine a 500 MW solar plant with a 100 MWh battery energy storage system, making it Oman’s first utility-scale solar-plus-storage system. The chosen developers will be responsible for the design, construction, ownership, financing, operation and maintenance of the plant and storage system.
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. In February, it was announced that four companies and consortia, including the Masdar-led group, submit proposals for the project.
The Ibri III project has been given an estimated project cost of OMR 155 million ($403.1 million) and 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.
Once operational, Ibri III will produce enough electricity to power around 33,000 homes and, according to Oman’s Minister of Energy and Minerals, Salim bin Nasser Al Aufi, will contribute to an additional 4% of renewable energy in the country’s electricity generation mix.
Oman had deployed 672 MW of solar by the end of 2024, according to figures from the International Renewable Energy Agency (IRENA). The country will have surpassed 1 GW of cumulative solar capacity this year after Chinese developer Shanghai Electric switched on the 500 MW Oman Manah I solar project last month.
The Omani government has set a target of generating 30% of electricity from renewables by 2030.
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