The 500MW Ibri III solar project officially has four companies shortlisted for the construction tender. The international consortia and companies including Korea Midland Power (KOMIPO), Masdar and Al Khadra took the first bid. The second bid was given by a JV between ACWA Power and TotalEnergies. A partnership between Korean Western Power (KOWEPO) and EDF Renewables took the third bid for the project. Sembcorp Utilities took up the fourth bid. The announcement about the submitted bids was made earlier this week by Nama Power and Water Procurement Co (PWP), the single buyer ofpower and water for all independent power projects in the country.
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Ibri III Solar Project Cost
The tender for the US$403 million project was launched in January a year ago. Initially, it received 12 submissions from both local and international developers. Only nine applications qualified to submit proposals in June 2024. The project is scheduled to begin construction later this year and be completed by the first quarter of 2027. It will be located in Al Dhahirah Governorate, alongside the two-year old, 500 MW Ibri II solar project. The project took just over a year to complete and was commisioned in January 2022.
Project Overview
Location: Al Dhahirah Governorate, Oman
Project Cost: US$403 million
Capacity: 500 MW
Completion date: Early 2027
The state of renewable energy in Oman
The Ibri III solar project marks a significant step that the country is making to shift from fossil fuels to renewable energy. It is also part of Oman’s broader strategy to diversify its energy sources in order to meet its growing power demand. It will contribute to the nation’s goal of generating 30% of its electricity through clean methods by 2030. Additionally, the implementation of this project will follow the successful precedent IPP model established in the Sultanate of Oman. It involves a fair and transparent competition process with the objective of awarding the contract to a highly qualified private sector developer with a view to deliver world class technology solutions to advance Oman’s renewable energy and energy resource diversifiation goals.
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