Oman Signs Landmark Deal for First Large-Scale Solar and Battery Storage Plant

Nama Power and Water Procurement Company (PWP) has signed an agreement to develop Oman’s first utility-scale solar and battery storage project with a consortium comprising Abu Dhabi Future Energy Company PJSC – Masdar, Al Khadra Partners, Korea Midland Power Co. Ltd. (KOMIPO), and OQ Alternative Energy (OQAE), Oman’s national renewable energy champion.

Masdar, a global leader in clean energy, will lead the consortium in delivering the Ibri III Solar Independent Power Project, which will combine a 500 MW photovoltaic (PV) plant with a 100 MWh battery energy storage system (BESS). The project scope covers the full cycle—design, construction, ownership, financing, operation, and maintenance.

The power purchase agreement (PPA) was signed in Muscat under the auspices of H.E. Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals. Signatories included Ahmed bin Salim Al Abri, CEO of PWP; Mohamed Jameel Al Ramahi, CEO of Masdar; Ghalib Al Maamari, Acting CEO of OQAE; Hind Suhail Salim Al Mukhaini Bahwan, Chairperson of Al Khadra Partners; and Lee Young-jo, CEO of KOMIPO.

H.E. Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals, said, “We are pleased to celebrate the signing of the agreement for the Ibri III Solar Power Plant, a milestone in the Sultanate of Oman’s transition towards renewable energy. This strategic project, covering an area of nearly 10 million square meters with a generation capacity of 500MW, and battery energy storage system (BESS) capacity of 100MWh, embodies our commitment to achieving the objectives of Oman Vision 2040 and reaching Net Zero by 2050.

With an investment of around OMR 115 million, the project reflects the confidence of our partners and investors in Oman’s business environment. The project will reduce carbon dioxide emissions by approximately 505,000 tonnes annually, and contribute up to an additional 4 percent of renewable energy in the total electricity generation mix.”