AN ACWA POWER-LED CONSORTIUM AND OMAN POWER AND WATER PROCUREMENT COMPANY INAUGURATE IBRI 2 PV IPP, OMAN’S LARGEST UTILITY-SCALE RENEWABLE ENERGY PROJECT – EQ Mag Pro

• Ibri 2 is the first solar IPP to connect to the main national grid

• The US$417 million solar plant with a capacity of 500 MW completed construction within 13 months at the highest health and safety standards

• The project will supply an estimated 50,000 homes with electricity and will offset 340,000 tonnes of carbon dioxide emissions a year

Muscat, Sultanate of Oman : Under the patronage of His Excellency Sayyid Hamoud bin Faisal al Busaidi, Omani Minister of Interior, and in the presence of His Excellency Eng. Khalid bin Abdulaziz Al-Falih, Saudi Minister of Investment, a consortium consisting of ACWA Power – a leading developer, investor and operator of power generation, desalinated water and green hydrogen plants – Gulf Investment Corporation (“GIC”), and Alternative Energy Projects Co. (“AEPC”), today inaugurated Ibri 2, the first solar independent power project (IPP) to be launched under the country’s national renewable energy programme and connected to the main national grid. The consortium will produce renewable energy over a 15-year period for the Oman Power and Water Procurement Company (OPWP).

The project is a significant step towards achieving the Oman 2040 Vision, which includes 20% of renewable energy production by 2030 and up to 39% by 2040, as well as protecting natural resources in the Sultanate. Ibri 2 also represents a robust partnership between the public and private sectors and embodies another example of the Sultanate’s ability to attract foreign direct investment within the framework of a clear and transparent legal, legislative, and regulatory environment under the umbrella of the Omani Power Sector Regulation and Privatisation Law.

At an investment of US$417 million (160 million Omani rials), Ibri 2 is Oman’s largest utility-scale renewable energy project. The project was developed on a build, own, operate (BOO) basis, which utilizes solar photovoltaic technology to generate 500 MW of renewable power. Construction was completed in 13 months only at the highest health and safety standards, with 5 million safe man-hours, despite disruptions to the supply chain as a result of the pandemic.

“As we look ahead, partnerships, and solutions like we have introduced at Ibri 2, will be crucial in solving the real-world problems associated with climate change, and ensure that together we realise a greener future,” Abunayyan added.

At peak generation capacity, the plant output will be enough to supply an estimated 50,000 homes with electricity and will offset 340,000 tonnes of carbon dioxide emissions a year. In addition to efficiently delivering clean energy to the main national grid, the Ibri 2 PV IPP project will create tangible socioeconomic value keeping local content in mind, offering local graduates on-the-job training and job opportunities. As part of the project supply chain, two local start-ups—Taj Middle East and Diaa Energy—were contracted to build mechanical installations. Additionally, the project’s operations and maintenance team has achieved a 100% Omanisation rate.

Located in Ad-Dhahirah Governorate, Ibri 2 PV IPP comprises of approximately 1.5 million bi-facial solar panels and extends over an area of 13 million square metres.

ACWA Power has had a presence in Oman since 2011, bringing over US$2.6billion Foreign Direct Investment (FDI) into the country over the last decade. Along with Ibri 2 PV IPP, the company has an additional seven projects in operation or in development in the Sultanate.