A 500-megawatt (MW) Manah-1 Solar IPP solar project in Oman has secured $301.8 million in funding from a group of international financial institutions. The project, Manah-1 Solar IPP is being built in Manah, located in Oman’s Al Dakhiliyah governorate, as per the reports.
It may be noted that 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.
As per reports, the 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.
After completion, the project will provide clean energy to power an estimated 50,000 homes, while offsetting over 780,000 tonnes of CO2 per year. The two solar projects will be operational by 2025. The 500 MW Manah 2 Solar IPP is also under construction, said the reports.
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.