Skip to content Skip to Search
Skip navigation

Omani solar plant secures $302m funding

By Pramod Kumar
Solar power installation is expected to sharply rise in the coming decade Pexels/Los Muertos Crew
Manah-1 Solar IPP will provide clean energy to power an estimated 50,000 homes, while offsetting over 780,000 tonnes of CO2 per year

A 500 megawatt (MW) solar project in Oman has secured $301.8 million in funding from a group of international financial institutions.

The Manah-1 Solar IPP is being built in Manah, located in Oman’s Al Dakhiliyah governorate, Oman Daily Observer reported.

Wadi Noor Solar Power Company is developing the project, which is a partnership between France’s EDF Renewables and Korea Western Power Co (KOWEPO), a wholly-owned subsidiary of Korea Electric Power Corporation.

The report said Societe Generale, the Export-Import Bank of Korea, and Bank Muscat have provided the funding.

Logo, Text

Work started on Manah 1 Solar IPP in September, with nearly one million bifacial photovoltaic modules on a single-axis tracker system that will be installed on a 7.8 sq km site.

At total capacity, the project will provide clean energy to power an estimated 50,000 homes, while offsetting over 780,000 tonnes of CO2 per year.

The 500 MW Manah 2 Solar IPP is also under construction, the newspaper said. 

The project is being developed by Sembcorp Jinko Shine Company, a project company set up by Singapore-based Sembcorp Industries and China’s Jinko Power Technology.

The two solar projects will be operational by 2025. 

Latest articles

UAE’s RedBird IMI acquires UK TV producer for $1.5bn

RedBird IMI, A US investment management company partly owned by Abu Dhabi’s International Media Investments, has acquired All3Media, the UK’s largest independent TV production company behind hits such as Fleabag, The Traitors and Gogglebox. The for £1.15 billion ($1.5 billion) deal is the largest for RedBird IMI to date, the company said in a statement. […]

PIF's Starbucks shareholdings were cut almost by half from 6.3 million shares to 3.8 million

PIF slashes Starbucks stake as it cuts US stocks by $15bn

Saudi Arabia’s Public Investment Fund (PIF) has slashed its US equity holdings by 42 percent to $20.6 billion, including its stake in Starbucks, the global coffee chain that has suffered calls for a boycott as a result of the Gaza conflict. The latest US government data highlights funding challenges facing the Saudi giga-projects.  The filing […]

Tunisia olives

Soaring olive oil exports help Tunisia balance books

Tunisia’s soaring olive oil exports have almost doubled to close to $1 billion in just five months, helping it claw back its current account deficit.   However the increased revenues merely “paint over the cracks” and the country is still probably heading towards a sovereign default, according to an economic expert. Tunisia’s current account deficit narrowed […]

Saudi aluminium producer Talco is offering 12 million shares

Aluminium producer Talco announces Saudi IPO

Aluminium producer Al Taiseer Group Talco Industrial Company (Talco) is the latest entity to reveal initial public offering (IPO) plans in Saudi Arabia. The Riyadh-based company, which was set up in 2009, is offering 12 million shares, a 30 percent stake, on the Saudi Exchange (Tadawul) at a nominal value of SAR10 ($2.67) per share. […]