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Ibri 2 IPP

Ibri 2 IPP

OVERVIEW

Ibri-2 Independent Power Producer (IPP) will be Oman’s largest utility-scale solar PV Independent Power Project. The project, to be developed on a BOO (build, own, operate) basis, will utilize solar PV technology to generate 500MWac of renewable power. At peak generation capacity, the plant output will be enough to supply an estimated 33,000 homes with electricity and will offset 340,000 tonnes of carbon dioxide emissions a year. Located around 300km west of Muscat, Ibri-2 IPP will contribute towards increasing power supplies in the Sultanate.

Ibri-2 IPP was won by a consortium composed of ACWA Power, Gulf Investment Corporation (GIC), and Alternative Energy Projects Co. (AEPC) in agreement with the Oman Power and Water Procurement Company (“OPWP”). ACWA Power is the lead investor in the project with a 50 per cent stake, whereas GIC will have a 40 per cent stake and AEPC will control the remaining 10 per cent. 

KEY FACTS

  • FUEL

    PV

  • LOCATION

    Ibri, Oman

  • OFFTAKER

    OPWP

  • POWER

    500 MW

  • PROJECT COST

    USD 385 Mn

  • ACWA POWER SHARE

    50 %

  • OFFTAKE CONTRACT

    PPA-BOO 15 years

  • OTHER INVESTORS

    Gulf Investment Corporation (40%), Alternative Energy Projects Co. (10%)

  • NOMAC, Population icon

    2,000 +

    employees across the globe

  • NOMAC, Meter icon

    28,000 + MW

    of power generation

  • NOMAC, Water Meter icon

    5.3 + million m3/day

    of desalinated water production

  • NOMAC, Countries flag icon

    10 + countries

    of global presence

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