Oman’s Nama Power and Water Procurement ( PWP ) has signed an agreement with a consortium led by Abu Dhabi Future Energy Company ( Masdar ) for the development of the sultanate’s first utility-scale solar and battery storage project.

Masdar is joined in the consortium by Al Khadra Partners, Korea Midland Power ( Komipo ), and Omani renewable energy developer OQ Alternative Energy ( OQAE ). They will build the Ibri III Solar Independent Power Project, which combines a 500-megawatt photovoltaic plant with a 100-megawatt-hour battery energy storage system ( BESS ). The deal covers the design, construction, ownership, financing, operation, and maintenance of the plant and storage system.

With an investment of around 115 million Omani rials ( US$299 million ), the project will contribute an additional 4% of renewable energy in the total electricity generation mix.

"This project not only reaffirms Nama PWP’s commitment to the transition towards renewable energy but also stands as a practical model of the Sultanate of Oman’s vision to synergize efforts between the public and private sectors in bringing about a qualitative transformation and state-of-the-art solution in the field of renewable energy and storage systems," says Nama PWP chief executive officer Ahmed bin Salim Al Abri. "It forms part of the national endeavours to achieve a sustainable economic and social future."

Nama PWP is a national and regional pioneer in public–private partnership. Over the past 15 years, the company has developed 26 power generation and water desalination plants, attracting foreign investments of US$11 billion.  It aims to attract a further US$5 billion in foreign investments over the next five years.

Renewable energy and storage technologies will account for the largest share of these investments. Nama PWP plans to add renewable energy capacities of up to 9 gigawatts by 2030, representing around 60% of contracted capacities, to ensure the achievement of Oman Vision 2040’s target of 30% generation of electricity from renewable sources.