Oman’s 500 MW Solar Power Plant Winners

• Sembcorp Industries says along with Jinko Power, it has won 500 MW solar tender in Oman
• They will launch a JV in which Sembcorp Utilities will have 80% stake to establish the project on BOO basis
• Power generated from the facility once it is online by 2025 will be sold to OPWP for 20 years

Singapore based energy player Sembcorp Industries has announced winning the rights to build 500 MW Manah Solar II Independent Power Producer (IPP) Project in Oman with its bidding consortium partner Jinko Power Technology from Oman Power and Water Procurement Company (OPWP).

Sembcorp will establish a joint venture (JV) with 80% ownership of its wholly-owned subsidiary Sembcorp Utilities, with Jinko Power.

The duo expects to bring the project online in Manah region of Oman by 2025, realizing it on build-own-operate (BOO) basis. Power generated will be sold to OPWP for 20 years under a power purchase agreement.

It happens to be the Singaporean company's maiden greenfield renewables project in the Middle East, according to Sembcorp Industries CEO of UK & Middle East, Andy Koss who added, "To be constructed in the Sultanate of Oman, the project will leverage our strong network and presence for over 10 years in the country built through Salalah Independent Water and Power Plant." Globally it has a 17.2 GW energy portfolio including 10.3 GW of gross renewable energy capacity including solar, wind and energy storage.

In a brief statement, Sembcorp said the JV will finance the project through a mix of equity and external bank borrowings.

OPWP had launched request for proposals (RFP) round for pre-qualifying companies for 1 GW solar capacity, to be developed as Manah I and Manah II, in July 2020 (see RFP Issued For 1 GW Solar Tender In Oman).