For more than 15 years, the Ibri 2 project will provide power to the Oman Power and Water Procurement Company.
The 500MW Ibri 2 solar farm in Oman was inaugurated by Saudi developer ACWA Power, Gulf Investment Corporation, and Alternative Energy Projects.
Ibri 2 will generate renewable energy for the Oman Power and Water Procurement Company over a 15-year period.
The project is Oman’s largest utility-scale renewable energy project, with a $417 million investment.
It was built on a build-own-operate model. Despite supply chain problems caused by the Covid-19 outbreak, construction was completed in 13 months.
The project is a step in achieving Oman’s 2040 Vision, which calls for renewable energy generation to reach 20% by 2030 and up to 39% by 2040.
“As a firm that is leading the change internationally, we are tremendously happy to play a significant part in helping the Sultanate of Oman’s ambitious Vision 2040 energy transition ambitions,” said ACWA Power chairman Mohammad Abunayyan.
“We have brought in considerable foreign direct investment into Oman since our market launch in 2011, because we believe passionately in its vision and future.”
“In spite of the challenging conditions imposed by the Covid-19 pandemic, we have leveraged our combined strengths in investments, industry expertise, and technological know-how to achieve the rapid and successful completion of the landmark Ibri 2 project with our partners Gulf Investment Corporation and Alternative Energy Projects Co.”
“I’d want to use this occasion to express my gratitude to the Saudi Arabian government for their unwavering support in allowing the project to be completed in record time.”
[Image: ACWA Power]