Nama Power & Water Procurement Company acquired bids for Oman’s 2.4 GW power project from 12 global and local developers. They include the Duqm IPP in Al Wusta and the Misfah IPP in Muscat. The statement of qualifications was provided by leading world players such as Korea Western Power and Samsung C&T Corporation. Other international bidders for the projects are Shenzhen Energy Group, Sembcorp Utilities, Reliance Power, Sumitomo, and Marubeni Corporation. In addition, well-established regional players have also entered the bidding process for the two projects.
Some of these are Al Ghanim International, Nebras Power, and Acwa Power Company. Etihad Water and Electricity Company and Al Jomaih Energy & Water Company also placed bids. The two projects will incorporate combined cycle gas turbines. They will cumulatively have a combined capacity of 2,400 megawatts. The 2.4 GW Oman Power Project will be built in collaboration with the private sector. It reflects the growing demand for power and economic growth across Oman.
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Importance of Oman’s 2.4 GW Power Project
Oman’s 2.4 GW Power Project is a big step towards consolidating national energy security. The project will cover the increasing demand for electricity in Muscat and Al Wusta. Additionally, the project highlights Oman’s campaign to bring in foreign investment. Against competition from large companies, the project boosts global confidence in Oman’s energy sector. It also shows the government’s shift in attitude towards collaboration with the private sector. Finally, the project can potentially reduce dependence on imports. It will also create employment opportunities and contribute to stimulating local economic activity. The geographical location of the plants contributes to supporting regional development and infrastructure. Furthermore, it will ensure energy access and add more residents to the national grid. With growing energy requirements, the project sets a good example. It cements Oman’s position as a valuable energy player in the region.
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Contract Awarded for Duqm Integrated Power & Water Project in Oman
