Press Release:
ACWA Power led consortium consist of Gulf Investment Corporation (GIC) and Alternative Energy Projects Co. (AEPCo) has signed the contract for the development of Oman’s Ibri-2 Independent Power Producer (IPP). The planned output of the project is 500MWac
The project has been awarded by Oman Power and Water Procurement Company (OPWP).
The project will be the first utility scale solar power project in Oman and will utilize Solar PV technology to yield 500MWac of power.
The project scope of work includes development, finance, construction, and operation of the 500 MWac solar PV power plant.
The project will be located around 300km west of Muscat.
ACWA Power is the lead investor in the project with a 50 per cent stake, whereas GIC will have a 40 per cent stake and AEPC will control the remaining 10 per cent.
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