Skip to content Skip to Search
Skip navigation

Oman plans to start work on more green projects this year

The UAE Banks Federation has launched a steering committee focused on ESG issues Reuters/Phil Noble
The UAE Banks Federation has launched a steering committee focused on ESG issues

Oman will likely issue requests for qualifications (RFQs) for new wind and solar-based independent power projects (IPPs) and a waste-to-energy project in the current quarter.

The RFQ for Duqm wind IPP, with an installed capacity of around 200-300 megawatts (MW), is expected to be released in the third quarter, followed by a request for proposals in Q1 2024, Nama Power & Water Procurement Co (PWP), the state-owned monopoly procurer for power and water, said in its latest 2023-2029 statement.

The project is proposed to come into operation in Q3 2026.

The RFQ for the proposed 100 MW new Jalan Bani bu Ali wind IPP is expected to be launched in the third quarter, with commercial operation starting in Q3 2026.

The Ibri III Solar IPP, with a capacity of 500 MW, will see the release of RFQ in Q3 2023. The project is expected to begin commercial operations in Q4 2026.

PWP plans to issue the proposed waste-to-energy project at Barka this year after completing the feasibility study in 2018. The project will be supplied by municipal waste collected from Muscat and south Batinah governorates and have a capacity between 130 and 140 MW.

The project will come into operation in Q2 2028, the statement said.

Over the next seven years, PWP aims to diversify the sources of electricity generation with new solar and wind projects expected to contribute 11 percent of electricity production by 2025.

In early 2022, the state-run firm launched the region’s first wholesale electricity spot market to drive further efficiency improvements.

Latest articles

The Saudi government is trying to raise home ownership among nationals to 70 percent of the population by 2030, which is helping to drive up residential property prices

Residential price rise counters slip in Saudi commercial property

Residential property was the driving force behind a rise in Saudi Arabian real estate prices in the first quarter of 2024 as prices of commercial real estate fell, government statistics released this week showed.  The overall real estate price index rose by 0.6 percent compared with the same quarter in 2023. But while there was […]

Residents in Muscat. Oman's government is taking steps to increase the size of its debt market

Sukuk takes bigger slice of Oman’s shrinking debt market

Oman’s total debt capital market contracted by 7 percent to $44 billion last year as the government took advantage of its budget surplus from higher oil and gas prices to make early payments. The energy boon helped its budget surplus total $2.4 billion. Despite the shrinking debt market Fitch Ratings said sukuk issuance in Oman […]

Marcel Ciolacu, Romania's PM, speaks to reporters in Rome. He is now in Qatar for trade talks

Romania touts $16bn of opportunities as PM visits Qatar

Romania is looking to secure €15 billion ($16 billion) of investment from Qatar during a visit by its prime minister, Marcel Ciolacu. He is set to hold talks with Qatar’s prime minister and minister of foreign affairs, Mohammed bin Abdulrahman bin Jassim Al Thani. Ciolacu is also due to have discussions with representatives of Qatar […]

The under-construction Zayed National Museum in Abu Dhabi

UAE wealth fund ADQ buys stake in Abu Dhabi builder

UAE sovereign wealth fund ADQ is acquiring a stake in the construction company building the Guggenheim and Zayed National museums in Abu Dhabi. Alpha Dhabi Holding (ADH), an investment holding company, announced in a filing to the Abu Dhabi Stock Exchange on Tuesday that it will divest 49 percent of its subsidiary Alpha Dhabi Construction […]