Skip to content Skip to Search
Skip navigation

Oman eyes completion of new solar project in 2026

Solar panels Unsplash
The company has invited qualified consultants to bid for its contract to provide technical services

State-owned utility major Oman Power and Water Procurement Company (OPWP) has commenced the procurement process for the second large-scale solar photovoltaic (PV) project at Ibri, Oman Daily Observer reported.

The new 500 MW Ibri III is an independent power project (IPP), similar to Ibri II solar IPP launched in January 2022.

The entity has invited qualified consultants to bid for its contract to provide technical services for the new project development.

The targeted scheduled commercial operation date is the fourth quarter of 2026.

OPWP, a member of Nama Group, is currently evaluating bids for its proposed 1.2GW solar PV scheme in Al Dakhiliyah Governorate.

Three international developers are in the race for the project, which will be implemented as two distinct projects, each of 500–600MW side by side.

Final submissions were received on October 3, 2022, after multiple extensions of the submission date, the news report said.

Oman’s national energy strategy plans a 20 percent share from renewables in total electricity generation capacity by 2030, reaching 39 percent by 2040. 

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]

Car, Transportation, Vehicle

Dubai Taxi to pay $43m dividend despite profit drop

Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, has approved a dividend payout of AED159 million ($43 million) for the first half of 2024 despite a marginal 1 percent increase in net profit. Net earnings reached AED187.4 million in the first six months of the year, compared to AED186.3 million at the same […]