MUSCAT, JULY 2
Nama Power and Water Procurement Company (PWP), the sole procurer of power and water capacity in the Sultanate of Oman, has launched its fourth auction round for International Renewable Energy Certificates (I-RECs) – a move aligned with the Sultanate of Oman’s broader strategy to advance decarbonization and its Net Zero targets.
Over 3 million I-RECs are on offer in this latest round, building on three previous auctions that have reinforced Oman’s efforts to provide avenues for businesses and strategic sectors within the country to decarbonise their operations.
Two years ago, Oman became the first country in the GCC to register the first wind farm – the 50 MW Dhofar I Wind Project – with the I-REC Standard Foundation. Since then, PWP has successfully registered Manah I Solar IPP and Manah II Solar IPP with the globally recognized I-REC Standard Foundation, which promotes an internationally recognized methodology for issuing and redeeming I-RECs. This system is implemented globally with the support of national governments and local stakeholders.
The I-REC certificates in this auction round represent renewable energy generated by the three projects between July 2024 and December 2025. The grid-connected Manah I and Manah II solar PV projects – each with a capacity of 500 MW – are expected to generate around 1.5 million I-RECs annually, while the Dhofar I Wind project is estimated to contribute approximately 150,000 certificates per year.
Commenting on the significance of this latest auction, Nama PWP CEO Ahmed bin Salim al Abri stated: “Through this market-based solution, PWP is enabling local businesses to decarbonize their operations by purchasing the I-RECs, while offering domestic and international buyers a credible pathway to meet voluntary sustainability targets.”
According to PWP, certifying the flow of energy from clean sources has become increasingly important for consumers who demand greater choice in how they procure electricity. Some companies seek to demonstrate compliance with renewable energy procurement requirements, while others aim to reduce their greenhouse gas emissions. To accurately report the use of renewable energy in emissions disclosures, companies must own and redeem a verified environmental attribute certificate, such as an I-REC.
Well-known Omani environmental services specialist Three Pillars Consulting (TPC) serves as the local issuer of I-RECs in the Sultanate of Oman. As the accredited issuer, TPC supports the registration of renewal and issuance of I-REC renewable energy tracking system.
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