Nama Power and Water Procurement Company (PWP) has signed a landmark agreement for the development of the Sultanate of Oman’s first utility-scale solar and battery storage project the 500MW Ibri III Solar and Battery Storage Project. The deal marks a major milestone in Oman’s drive to expand its renewable energy capacity and diversify its energy mix. The agreement, valued at RO 115 million, has been signed with a consortium comprising Abu Dhabi Future Energy Company PJSC – Masdar, Al Khadra Partners, Korea Midland Power Co. Ltd (KOMIPO), and OQ Alternative Energy (OQAE). Masdar, a global leader in clean energy, will lead the consortium in developing the Ibri III Solar Independent Power Project.
500MW Solar PV with 100MWh Battery Storage
Ibri III combines a 500-megawatt (MW) photovoltaic (PV) plant with a 100-megawatt-hour (MWh) battery energy storage system (BESS). The project’s scope includes the design, construction, ownership, financing, operation, and maintenance of both the solar facility and the storage system. Covering an area of nearly 10 million square meters, it is positioned to become a cornerstone of Oman’s renewable energy infrastructure.
Supporting Oman Vision 2040 and Net Zero 2050
The signing ceremony for the Power Purchase Agreement (PPA) took place under the auspices of His Excellency Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals. He highlighted that the Ibri III project represents a significant step toward Oman Vision 2040 and its Net Zero emissions target by 2050, reinforcing the Sultanate’s commitment to a sustainable future.
The Ibri III Solar project will be joining the 500MW Manah 1 which in August 2025 begun supplying power to the Omani power grid.
Factsheet: Ibri III Solar and Battery Storage Project
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Project Type: Utility-scale solar PV plant with battery energy storage
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Capacity: 500 MW solar PV + 100 MWh BESS
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Investment: RO 115 million
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Consortium Members: Masdar (lead), Al Khadra Partners, KOMIPO, OQAE
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Area Covered: ~10 million m²
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Scope: Design, construction, financing, ownership, operation, and maintenance
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Strategic Goal: Contribute to Oman Vision 2040 and Net Zero 2050 targets
Reported 1th February 2025 – 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.
Also Read Oman’s 500 MW Manah 1 solar plant enters new construction phase
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.
Also Read India’s HMPL Plans 500MW Andhra Pradesh Solar Project
