Oman’s Nama Power and Water Procurement Company have now inked a deal worth 800 million USD with investment companies for two independent power projects (IPPs). It will be utilized for building renewable sources to produce clean electricity in Manah town in the Dakhliyah region.
As per the deal, the project will use solar power in the two IPPs viz. Manah I and Manah II , having a total production capacity of 1,000MW. The two projects will be set up on an area of 14.5mn sqm and will ensure the installation of over 2 million solar panels.
The French EDF renewable energy firm and the Korea Western Power Company from South Korea will develop Manah I Solar IPP. Meanwhile, Singapore-based Sembcorp Utilities and Jinko Power Technology from China will develop the Manah II Solar IPP. The agreements were signed at a ceremony where the company announced its rebranding from Oman Power and Water Procurement Company.
Speaking on the occasion, Yaqoob Saif al Kiyumi, CEO of Nama Power and Water Procurement, said, “Our new brand identity reflects our commitment to sustainable development. We are committed to promoting the use of renewable energy in Oman and ensuring the country’s long-term energy security along with contributing to the achievement of the net zero targets of the sultanate.”
Kiyumi informed that the projects would be developed in partnership with the private sector on a build, own and operate basis. In addition, the company also has plans to develop a new solar power project in Ibri with a production capacity of 500MW. Also, Oman has a target of over 1GW of capacity from Wind-based IPPs by 2030.