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Award nears for Oman’s Ibri 3 solar IPP

7 May 2025

 

Oman’s Nama Power & Water Procurement Company (Nama PWP) is understood to have completed the bid evaluation process for the contract to develop and operate the sultanate’s next solar independent power producer (IPP) project, Ibri 3.

The 500MW IPP scheme is Oman’s fourth utility-scale solar power plant project.

MEED reported in February that the following companies submitted bids for the Ibri 3 IPP contract:

  • Abu Dhabi Future Energy Company (Masdar, UAE) / Korea Midland Power (Komipo, South Korea) / Al-Khadra Partners (local)
  • Acwa Power (Saudi Arabia) / TotalEnergies Renewables (France)
  • EDF Renewables (France) / Korean Western Power (Kowepo, South Korea)
  • Sembcorp Utilities (Singapore)

Sources close to the project tell MEED that Oman’s offtaker has concluded the bid evaluation process and could announce the frontrunner for the package soon.

Unlike in other GCC states, Oman has never publicly announced tariffs it has received from bidders for its renewable energy IPPs and independent water projects (IWPs).   

Nama PWP received prequalification applications for the Ibri 3 solar photovoltaic (PV) IPP contract in March last year.

KPMG Lower Gulf, a subsidiary of the Netherlands-based consultancy company, has been selected to provide Nama PWP with financial advisory services for the Ibri 3 solar IPP project.

Previous projects

The country’s first 500MW solar IPP scheme, Ibri 2, came onstream in September 2021 and was officially inaugurated in January 2022.

The Manah 1 and Manah 2 solar IPP projects, each with a capacity of 500MW, were recently inaugurated. 

A team comprising France’s EDF and South Korea’s Korea Western Power Company (Kowepo) won the contract to develop the Manah 1 solar PV IPP project.

A team of Singapore’s Sembcorp Industries and China-headquartered Jinko Power Technology was awarded the second 500MW solar PV IPP contract.

In September last year, Nama PWP tendered the contracts to develop two wind IPPs.

The Jalan Bani Bu Ali wind IPP will cater to Oman’s Main Interconnection System (MIS), while the Dhofar 2 wind IPP will cater to the smaller Dhofar Power System (DPS).

Three other wind IPPs are expected to be tendered separately. They are:  

  • Duqm wind IPP: Located in Ras Madrakah in Duqm, the project will have a capacity of 234MW-270MW, with commercial operations expected in Q4 2027
  • Mahoot wind 1 IPP: Located in Mahoot in the Al-Wusta Governate, the wind farm will have a capacity of 342MW-400MW, with a commercial operation target of Q4 2027 
  • Sadah wind IPP: Located in Sadah in the Dhofar Governorate, it will have a capacity of 81MW-99MW and is due for commercial operation in Q4 2027

READ THE MAY 2025 MEED BUSINESS REVIEW – clck here to view PDF

Gulf hunkers down as US tariffs let fly; Abu Dhabi looks to secure its long-term economic prosperity; Nesma stays on top as China State moves up in 2025 GCC contractor ranking

Distributed to senior decision-makers in the region and around the world, the May 2025 edition of MEED Business Review includes:

> GULF PROJECTS INDEX: Gulf projects index inches upwards
To see previous issues of MEED Business Review, please click here
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Jennifer Aguinaldo

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