Oman opens multimillion dollar mega solar project supported by Gulf investors

Oman opens multimillion dollar mega solar project supported by Gulf investors
Omar inaugurated its Ibri Solar Project Monday, a megaproject led by a consortium of Gulf investors that marks a step towards a greener future for the region.
2 min read
25 January, 2022
The mega project comprises of 1.5 million bi-facial solar panels [Getty]

The largest renewable energy project in Oman, the Ibri Solar Project, was officially opened Monday. 

The solar farm, located in the northwestern governorate of Al-Dhahirah, will provide enough electricity for roughly 50,000 homes with a production capacity of about 500 megawatts, according to The Times of Oman. 

The project, led by a consortium of Gulf companies, has a total investment value of over $400 million and covers an area of 13 million square metres, equivalent to roughly 1,820 football pitches.  

"The plant is a major milestone in zero-carbon electricity generation for Oman and the project is in the interest of the national priorities set by Oman Vision 2040, which are environmental conservation, exploitation of natural resources and development," said the CEO of Oman Power and Water Procurement Company (OPWP) Yaqoob Al-Kiyumi speaking at the inauguration. 

The project was led by a consortium consisting of ACWA Power, a leading Saudi investor, Gulf Investment Corporation (GIC), an investment company owned by six Gulf countries, and Alternative Energy Projects Co. (AEPC), a Kuwait-based organisation. 

ACWA Chairman Mohamed Abunayyan said his company was "proud" to play a role in the project. He told Muscat Daily: "Solutions like [Ibris] will be crucial in solving the real-world problems associated with climate change and ensure that together we realise a greener future."

The project is expected to offset 340,000 tonnes of carbon dioxide emissions a year, marking a step towards a greener future for Oman, and the region. 

Al-Kiyumi said the OPWP was already developing two solar plants in Al-Dakhiliyah, with a total capacity of 1,000 megawatts, and wind projects in North Al-Sharqiyah and Al-Wusta, according to Asharq Al-Awsat.  

Vision 2040 lays out Oman’s plans for developing "a productive and diversified economy" that uses renewable energy sources and utilises the nation's natural resources to promote growth.