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Monday, 6 March 2023

Oman’s OPWP will award two new solar projects to foreign investors

Oman’s Power and Water Procurement Company (OPWP) has received approval to award the Manah 1 and 2 solar energy projects to foreign investors, Oman Daily reported last week. The two projects will contribute a total of 1 GW to the national grid, each yielding 500 MW. The total cost of the two projects will amount to over OMR 300 mn (c. USD 780 mn) and will be the largest in the sultanate.

The projects will break ground this year: Construction of the projects will begin in 3Q 2023 and commercial operations will be completed by the middle of 2025 after the Authority for Public Services granted its approval to OPWP, according to the news outlet.

OPWP is ramping up renewables projects in the sultanate: OPWP launched three wind IPPs across Oman last month. The Duqm wind project and Jaalan Bani Bu Wind will come online in 2Q 2026 followed by the Harweel Wind project in 4Q 2026 and will yield between 100 to 200 MW each.

ALSO- Oman has nickel mining in the pipeline: Oman’s Energy and Minerals Ministry inked an agreement with British company Knights Bay to obtain concession rights to extract nickel ore in mining area No. 21 located in the North Al-Sharqiyah Governorate, the National reported on Thursday. The initial investment in the exploration and evaluation phase is between USD 25 and 30 mn over the course of the first three years, according to a tweet by Oman News Agency.

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