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  Oman’s Manah 2 starts electricity supply

  5 May 2025

  Oman’s Manah 2 solar independent power project (IPP) has begun supplying electricity to Oman's electricity grid, four months after the project achieved commercial operations status.

  Singapore-based utility developer Sembcorp leads the team that won the contract to develop and operate the 500MW solar photovoltaic (PV) scheme.

  The firm marked the formal commencement of the supply of electricity under a 20-year power purchase agreement (PPA) with Nama Power & Water Procurement Company (PWP) on 4 May.

  Located in Oman's Al-Dakhiliyah Governorate, Manah 2 covers 6.8 million square metres and features 1 million bifacial solar PV panels mounted on 8,691 tables and connected to 60 central inverters, Sembcorp said.

  The IPP supports Oman’s Vision 2040 goal of deriving 30% of its electricity from renewables by 2030.

  PWP signed the 20-year PPA with the developer team, comprising Sembcorp and Hong Kong-based Jinko Power Technology, in March 2023.

  The project was the first renewable energy contract the Singaporean firm had won in the Middle East region.

  Sembcorp owns an 80% stake in a joint venture comprising its subsidiary, Sembcorp Utilities, and Jinko Power, which will implement the project.

  China Energy Engineering Corporation – Shanghai Electric Power is the project's engineering, procurement and construction contractor.

  Manah 2 and another project, Manah 1, were previously named Solar IPP 2022 and 2023.

  Three developer consortiums submitted technical and financial proposals for the Manah 1 and Manah 2 contracts in late September 2022.

  Located 150 kilometres southwest of Muscat, the Manah 1 and 2 solar projects comprise the second utility-scale renewable energy projects to be tendered by PWP, after Ibri 2, which has been operational since 2021.

  The bid evaluation process is under way for the 500MW Ibri 3 solar IPP.

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  Jennifer Aguinaldo
• 
  Market awaits Hidd IWP prequalified developers

  5 May 2025

  

   

  The list of prequalified developers that can bid for Bahrain Electricity & Water Authority's (EWA) first independent water project (IWP) is still undergoing final approval by the country's tender board, according to a source familiar with the project.

  The Al-Hidd seawater reverse osmosis (SWRO) plant is expected to have a production capacity of about 60 million imperial gallons a day (MIGD), equivalent to approximately 272,000 cubic metres a day (cm/d) of potable water.

  EWA received statements of qualifications for the contract from interested companies by 25 December.

  According to industry sources, the following companies have sought to prequalify for the contract:

  • GS Inima (South Korea/Spain) / Lamar Holding (local)
  • Acwa Power (Saudi Arabia)
  • Abu Dhabi National Energy Company (Taqa, UAE)  

  The facility will be developed on a brownfield site and is expected to be fully operational by the second quarter of 2028. It is expected to help expand Bahrain’s water infrastructure to meet projected demand based on its 2030 masterplan.

  The Al-Hidd IWP will be developed using a build, own and operate (BOO) model, with a duration of 20-25 years.

  MEED understands that the project's request for proposals is expected to be issued soon after the list of prequalified developers receives approval from Bahrain Tender Board.

  EWA had previously notified companies that had been prequalified to bid for another BOO project.

  The Sitra independent water and power project (IWPP) is a combined-cycle gas turbine (CCGT) plant that is expected to have a production capacity of about 1,200MW of electricity. The project’s SWRO desalination facility will have a production capacity of 30MIGD of potable water.

  The plant is Bahrain’s fourth IWPP, replacing the previously planned Al-Dur 3. The Sitra IWPP is expected to be fully operational by the second quarter of 2029.

  EWA’s transaction advisory team for the two BOO projects comprises KPMG Fakhro as the financial consultant, WSP Parsons Brinckerhoff as the technical consultant and Trowers & Hamlins as the legal consultant.

  MEED understands that EWA’s Sitra IWPP will likely be Bahrain’s last CCGT plant project. Solar power is expected to account for all future electricity generation capacity.

  Bahrain aims to reach net-zero carbon emissions by 2060.

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  Jennifer Aguinaldo
• 
  Masdar completes Terna Energy acquisition

  5 May 2025

  Greece's Terna Energy has delisted from the Athens Stock Exchange (Athex) following the acquisition of 100% of its shares by UAE-based Abu Dhabi Future Energy Company (Masdar).

  Masdar acquired 70% of Terna Energy from its parent GEK Terna and other shareholders in November last year, in a deal that gave the company an enterprise value of €3.2bn ($3.6bn).

  An all-cash mandatory tender offer and squeeze-out process for the remaining 30% of the company, at €20 a share, was completed last month.

  Masdar said in November that the transaction is the largest-ever energy transaction on Athex and one of the largest in the European renewables market.

  The deal is expected to provide significant capital investment in Greece and other European countries, supporting Terna Energy's contribution to Greece's National Energy and Climate Plan and the EU's net zero by 2050 target.

  It will also boost Masdar's target to develop a portfolio of 100GW of global renewable energy capacity by 2030.

  "Bringing Terna Energy into the Masdar family strengthens our position in Greece and the wider region, enabling us to [expedite] the growth of renewable energy solutions and unlock the investment needed to empower nations to achieve their clean energy targets," said Sultan Al-Jaber, UAE Industry & Advanced Technology Minister, head of Abu Dhabi National Oil Company (Adnoc) and Masdar chairman.

  "This acquisition also demonstrates the commitment of both the UAE and Masdar to bringing affordable, secure and sustainable energy to all."

  Masdar has retained France's Rothschild & Co as sole financial adviser, and the UK's Simmons & Simmons, Greece's Bernitsas Law and the US-headquartered Latham & Watkins as legal advisers, in connection to the transaction and financing.

  US firm Reed Smith and Greece's PotamitisVekris were GEK Terna's international and Greek legal advisers for the transaction, respectively, while US-based Morgan Stanley has been acting as sole financial adviser to Terna Energy.

  According to Masdar, the delisting from Athex follows a productive first quarter for Terna Energy, which has seen the continuation of construction on projects in Greece and Bulgaria, including the Amphilochia pumped storage hydropower project, Masdar’s first such project in Europe.

  The business has also reached final investment decisions on new solar, wind and battery projects with a combined capacity of 250MW. These plants are due to be operational within the next two years, Masdar said.

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  Jennifer Aguinaldo
• 
  Marafiq and Doosan Enerbility agree plant fuel conversion deal

  2 May 2025

  Saudi Arabia’s state-owned utility company, Power & Utility Company for Jubail & Yanbu (Marafiq), has signed a contract with South Korea’s Doosan Enerbility to convert an oil-fired power plant in Yanbu into a gas-fired power plant.

  The fuel conversion contract for Yanbu 2 is valued at KRW180bn ($129m), the South Korean firm said.

  The project is expected to reduce carbon emissions by 25% while maintaining the same generation capacity.

  Jamal Abdulrahman Omar, vice president of operations and maintenance at Marafiq, and Seungwoo Sohn, CEO of Doosan Enerbility’s power services business group, witnessed the contract signing ceremony in Jubail on 27 April.

  Doosan Enerbility will supply the main equipment, including the combustor and distributed control system, and undertake the plant’s commissioning process by 2028.

  The Yanbu 2 power plant, which was built in 2013 within the Yanbu Industrial Complex, approximately 350 kilometres north of Jeddah, has a capacity of 1,375MW.

  Doosan Enerbility supplied the main components, including the boiler and steam turbine.

  Saudi Arabia is expected to place 1.4GW-worth of new orders for fuel conversion projects in Saudi Arabia during the years up to 2027, the South Korean engineering, procurement and construction (EPC) contractor said.

  In addition to Saudi Arabia, Doosan Enerbility has undertaken several fuel conversion projects in other countries, including Chile and Vietnam.

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  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:

  > AGENDA 1: GCC shelters from the trade wars > AGENDA 2: Gulf markets slide as US tariff shockwaves hit > AGENDA 3:  Lower oil prices raise Gulf’s fiscal pressure > SYRIA: Syria makes progress towards reunification > GCC CONTRACTORS: Contractors take on more work in 2025 > MINERALS: Saudi Arabia and Oman open up their minerals potential > INTERVIEW: CCED seeks growth in Oman’s hydrocarbons sector > INTERVIEW: Roshn outlines its procurement strategy > LEADERSHIP: Rethinking investments for a lower-carbon future > UAE REPORT: UAE is poised to weather the storm  > GULF PROJECTS INDEX: Gulf projects index inches upwards > CONTRACT AWARDS: Region records $70.3bn of deal signings in Q1 2025 > ECONOMIC DATA: Data drives regional projects > OPINION: Trump’s new world order

  To see previous issues of MEED Business Review, please click here

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  Jennifer Aguinaldo
• 
  Chinese firm signs Mubarak port early contractor involvement

  2 May 2025

  Beijing-headquartered China Harbour Engineering Company, a subsidiary of China Communications Construction Company (CCCC), has signed an early contractor involvement (ECI) agreement with Kuwait to develop the next phases of Kuwait’s Grand Mubarak Port.

  According to local media reports, the initial works cover surveying, investigation, hydrological observation, geophysical exploration, testing, model testing, process simulation, design review, owner inspection, preliminary design of sand retaining embankments and on-site services and management.

  The project launch ceremony was held in mid-April and was attended by several high-profile representatives from Kuwait and China, including Fu Xuyin, China’s vice-minister of the Ministry of Transport, Zhang Jianwei, the Chinese ambassador to Kuwait, and Nora Mohammad Al-Mashaan, Kuwait’s minister of public works.

  In January, MEED reported that Kuwait’s cabinet had approved a bid from China Communications Construction Company to implement all stages of its Mubarak Al-Kabeer Port project.

  The country ramped up its efforts on the project after meetings between Kuwaiti and Chinese officials in June last year.

  In 2023, the two countries signed a memorandum of understanding for developing infrastructure works for the port.

  Phase one of the project cost $1.2bn and was completed in 2014.

  The project’s first phase included site levelling and the development of a marina, quay walls, berths, a navigational terminal and port buildings.

  The port is not operational because the phase one works did not include vital equipment such as cranes.

  It is understood that the completion of phase two will allow the port to start operations.

  The full scope for phase two of the project is expected to include:

  • Construction of loading and unloading facilities
  • Construction of quay walls and reclamation
  • Construction of container yard and back of the port
  • Infrastructure works
  • Construction of buildings
  • Construction of container terminal
  • Construction of associated facilities
  • Installation of safety and security systems

  A third phase is also planned, which will further expand the port.

  The latest developments follow a series of agreements signed in September 2023 to deliver some of Kuwait’s immediate development goals between 2024 and 2028. These agreements will position Chinese companies to play a leading role in the Fourth Kuwait Master Plan 2040.

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  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:

  > AGENDA 1: GCC shelters from the trade wars > AGENDA 2: Gulf markets slide as US tariff shockwaves hit > AGENDA 3:  Lower oil prices raise Gulf’s fiscal pressure > SYRIA: Syria makes progress towards reunification > GCC CONTRACTORS: Contractors take on more work in 2025 > MINERALS: Saudi Arabia and Oman open up their minerals potential > INTERVIEW: CCED seeks growth in Oman’s hydrocarbons sector > INTERVIEW: Roshn outlines its procurement strategy > LEADERSHIP: Rethinking investments for a lower-carbon future > UAE REPORT: UAE is poised to weather the storm  > GULF PROJECTS INDEX: Gulf projects index inches upwards > CONTRACT AWARDS: Region records $70.3bn of deal signings in Q1 2025 > ECONOMIC DATA: Data drives regional projects > OPINION: Trump’s new world order

  To see previous issues of MEED Business Review, please click here

  https://image.digitalinsightresearch.in/uploads/NewsArticle/13804067/main.jpg

  Yasir Iqbal