A consortium led by Japanese firm Marubeni Corporation has signed a 23-year power purchase agreement with Petroleum Development Oman (PDO) for the 105MW Amin Solar PV IPP Project.
The consortium also included Oman Oil Facilities Development Company (OOFDC), Bahwan Renewable Energy Company, and Modern Channel Services (MCS).
The special purpose company is shared in the following equities: Marubeni 50.1%; OOFDC 30%; Bahwan 10%; and MCS 9.9%. Financing is still being arranged at present.
The Japanese-Omani consortium won the bidding process to develop, finance, built, operate and maintain the solar independent power producer (IPP) project. To be located at Amin, southern Oman, the PV park will be the first large-scale solar plant in the country. It is slated to begin operations in May next year.
Marubeni noted the project is in line with its strategy to expand its renewables business globally, with a focus on the Middle East and North Africa (MENA) region, where it says “many large scale projects are in the works.”
Marubeni has also had the 2GW Sur Gas Fired Combined Cycle IPP Project operational in Oman since 2014.
Oman Power and Water Procurement Company (OPWP) also revealed in November the three players who have submitted bids for its 500MW solar tender.