Under the patronage of His Excellency Abdulsalam bin Mohammed bin Abdullah Al Murshidi, Chairman of the Oman Investment Authority , Nama Power and Water Procurement Company signed new power and water purchase agreements with four power and desalination plants in the Sultanate of Oman.
Nama Power and Water Procurement Company issued the 2024 Electricity and Water Procurement Tender last year and opened competition among a number of existing plants, the contracts of which have expired or are about to expire. This tender is an opportunity for existing plants to obtain new contracts for the purchase of electricity or water by Nama Power and Water Procurement Company after the expiration of their current agreements.
These agreements aim to ensure that the main electricity network is supplied with capacities to meet the growing demand for power, and to secure capacities to supply water networks to meet the growing demand for desalinated water. By signing these agreements, Nama Power and Water Procurement Company has achieved several key objectives, including reducing the cost of providing energy, enhancing investor confidence in the stock market through companies listed on the Muscat Stock Exchange, and enhancing the confidence of international developers and financing banks to invest in future power and desalination projects.
Commenting on the occasion, Mr. Ahmed Salem Mohammed Al Abri, Acting CEO of Nama Power and Water Procurement Company, said, “The signing of these agreements establishes a new phase of constructive collaboration between the public and private sectors and strengthens the confidence of developers, financiers and owners of electricity production and desalination plants in the electricity and water sector in the Sultanate of Oman. The total contracted capacity of these agreements exceeds 1500 MW of electricity and 200 thousand cubic meters per day of desalinated water from four plants, namely Barka 1 Power and Water Plant, Barka 2 Power and Water Plant, Al Rusail Power Plant and Manah Power Plant. The duration of these agreements is up to nine years.”
Nama Power and Water Procurement Company is the exclusive procurer of all electricity and desalination projects in the Sultanate of Oman. The company is also working on developing a range of renewable energy projects to reach the objectives of Oman Vision 2040 and achieve the goal of net zero emissions by 2050.
