MUSCAT: Oman Power and Water Purchase Company (OPWP), a member of Nama Group, is lining up new investments totaling in excess of RO 480 million ($1.250 billion) towards renewable energy and water desalination projects in the near future.
Eng Yaqoub bin Said al Kiyumi , CEO, said in a statement to Oman News Agency (ONA) that OPWP is currently procuring two solar PV projects of a total capacity of 1,000 MW in Al Dakhiliyah Governorate. Private investments in these solar schemes total around $600 million, he said.
In addition, wind power projects totalling $300 million in investment are planned in Jaalan Bani Bu Ali in South Al Sharqiya Governorate and Wilayat of Duqm in Al Wusta Governorate. The process of prequalifying interested developers will start before the end of this year, he said.
Eng Al Kiyumi added that the initiatives are in line with the national goals set by out under Oman 2040 vision aimed at environmental sustainability, greenhouse gas emission reduction, exploitation of natural resources, developing the governorates of the country, enlisting the support of the private sector, attracting foreign investment and generating jobs for Omani youth.
Commenting on the water sector, the CEO said that private developers are setting up a pair of desalination projects in Muscat and Barka with an investment of about $350 million.