MUSCAT – The agreement was signed with the consortium of Abu Dhabi Future Energy Company PJSC – Masdar, Al Khadra Partners, Korea Midland Power Co. Ltd (KOMIPO), and OQ Alternative Energy (OQAE), with an investment of RO 115 million.
Masdar, a global clean energy leader, will lead the consortium developing the Ibri III Solar Independent Power Project, which combines a 500-megawatt (MW) photovoltaic (PV) plant with a 100-megawatt-hour (MWh) battery energy storage system (BESS). The scope of the project includes design, construction, ownership, financing, operation and maintenance of the plant and storage system.
The signing ceremony of the power purchase agreement (PPA) for the project, was held under the auspices of His Excellency Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals.
Speaking on the occasion, His Excellency said: “The signing of the agreement for the Ibri III Solar Power Plant is 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 RO 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.”
Ahmed Salim Al Abri, Chief Executive Officer at Nama Power and Water Procurement, said: “At Nama Power and Water Procurement Company, we take great pride in collaborating with our strategic local and international consortium partners on the Ibri III Solar Power Project. This project not only reaffirms Nama Power and Water Procurement’s commitment to the transition towards renewable energy but also stands as a practical model of the Sultanate of Oman’s vision to synergise efforts between the public and private sectors in bringing about a qualitative transformation and state of art solution in the field of renewable energy and storage systems.”
Mohammed Jameel Al Ramahi, Chief Executive Officer, Masdar, said: “This project will help the Sultanate of Oman to address the energy needs of today, while helping to create new jobs, drive socioeconomic growth and prepare for the growing demands of tomorrow. Alongside our consortium partners, we look forward to working closely with Nama Power and Water Procurement and the Government of Oman in developing this project and delivering sustainable, secure energy to the people of Oman.”
The Ibri III project is a key element in Oman’s policy to diversify energy resources to meet growing electricity demand, with Oman Vision 2040 including the objective of generating 30 percent of electricity from renewables by 2030. Once operational, Ibri III will produce enough electricity to power around 33,000 homes, while avoiding approximately 505,000 tonnes of carbon dioxide annually.