Saudi developer ACWA Power, Gulf Investment Corporation and Alternative Energy Projects have inaugurated the 500MW Ibri 2 solar farm in Oman.
Ibri 2 will produce renewable energy over a 15-year period for the Oman Power and Water Procurement Company.
The project represents an investment of $417m and is Oman’s largest utility-scale renewable energy project.
It was developed on a build, own, operate basis. Construction was completed in 13 months, despite disruptions to the supply chain as a result of the Covid-19 pandemic.
The project is a step towards achieving the Oman 2040 Vision, which includes 20% of renewable energy production by 2030 and up to 39% by 2040.
ACWA Power chairman Mohammad Abunayyan said: “As a company that is driving the transition globally, we are extremely proud to play a key role in supporting the Sultanate of Oman’s ambitious Vision 2040 energy transition goals.
“Since our market entry into Oman in 2011, we have brought in significant foreign direct investment, because we believe strongly in its vision and future.
“Together with our partners Gulf Investment Corporation and Alternative Energy Projects Co, we have leveraged our combined strengths in investments, industry expertise and technological know-how to achieve the rapid and successful completion of the milestone Ibri 2 project, despite challenging conditions imposed by the Covid-19 pandemic.
“I would like to take this opportunity to thank the Government of Saudi Arabia for their relentless support in enabling the development of the project in record time.”