MUSCAT:Riyadh-based ACWA Power led consortium has won a $400 million contract to build the first utility-scale solar photovoltaic based Independent Power Project (IPP) at Ibri in Dhahirah governorate of Oman, according to reports.
The project will offer a peak power generation capacity of 500 MW, which will meet the electricity needs of an estimated 33,000 homes.
The winning consortium, comprising ACWA Power, Kuwait-based Gulf Investment Corporation and Alternative Energy Projects Co, was selected following a detailed financial, technical and legal evaluation of bid proposals, Oman Observer reported, citing Oman Power and Water Procurement Company CEO Yaqoob Al Kiyumi.
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The IPP is slated to be commercially operational by June 2021, Al Kiyumi said.
