Jomar Mendoza -
MUSCAT, FEB 6 -
Marubeni Corporation, which heads a Japanese-Omani consortium selected by Petroleum Development Oman (PDO) to build a 105 MW solar power project at Amin, has effectively expanded its presence in the Sultanate.
The project will be the first large scale solar plant in Oman. It also marks Marubeni’s second Independent Power Project (IPP) in the Sultanate, the first being the Sur Gas Fired Combined Cycle IPP Project (2,000MW) which has been in operation since 2014.
Recently, the Marubeni-led consortium signed a power purchase agreement (PPA) with PDO for the output of the 105 MW Amin photovoltaic project in the south of Oman.
The consortium is a partnership created through a special purpose company between Marubeni, with a 50.1 per cent stake, Oman Oil Facilities Development Company (30 per cent), Bahwan Renewable Energy Co (10 per cent) and Modern Channel Services with 9.9 per cent.
The PPA, which will last for 23 years, will task the consortium to develop, construct operate and maintain the solar PV plant which has a capacity of 105 MW. Marubeni said the scheduled commercial operation date is projected for May 2020. Marubeni added that project financing is also being arranged for this project.
Marubeni maintains 12GW of net IPP generation assets across 22 countries and is proactively expanding its development of renewable energy IPP projects. Marubeni said it will continue to expand its business activities in the renewable energy power sector throughout the world, with focus on the Middle East and North Africa (MENA) region where many large scale projects are in the works.
The company added it is committed to contributing to the supply of stable power in the MENA region.