A Masdar-led consortium has signed an agreement with Oman’s Nama Power and Water Procurement Company to develop the 500 MW Ibri III solar plant and 100 MWh BESS system in Oman, according to a statement. The project, to be developed alongside local partner Al Khadra Partners and Korea Midland Power, has an investment ticket of some OMR 115 mn (c. USD 300 mn), according to a separate statement.

About the plant: The 500 MW solar facility is scheduled to come online in 1Q 2027, and will span around 10 mn sqm. Adjacent to the existing Ibri 2, Ibri 3 will offset some 505k tons of CO2 emissions annually at full capacity.

REMEMBER- Oman’s Nama received four bids for the development of the 500 MW Ibri III solar project in Al Dhahirah in February. Bidders included an Acwa-TotalEnergies consortium, an alliance consisting of EDF Renewables and Korean Western Power, and an independent proposal from Singapore’s Sembcorp Utilities.

Energy for all: The GCC Interconnection Authority (GCCIA) signed a USD 500 mn interim financing agreement with Oman’s Sohar International Bank earlier this month to fund a new 530-km electricity interconnection between the UAE and a new Ibri station in Oman.

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