Oama Power and Water Procurement (PWP) has signed an agreement for the development of Oman’s first utility-scale solar and battery storage project with the consortium of Masdar – Abu Dhabi Future Energy Company, Al Khadra Partners, Korea Midland Power (KOMIPO), and OQ Alternative Energy (OQAE), Oman’s national renewable energy company.

Masdar will lead the consortium developing the Ibri III Solar Independent Power Project, which combines a 500 MW photovoltaic (PV) plant with a 100 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.

Salim bin Nasser Al Aufi, Oman’s Minister of Energy and Minerals, said: "With an investment of around OMR115 million ($299 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."

Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar, said: "Masdar is proud to lead the consortium developing the Ibri III Independent Power Project, which will support the Oman Vision 2040 objectives of diversifying the nation’s economy and energy resources. 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.".