Oman’s Nama Power and Water Procurement (PWP) has signed an agreement with a consortium led by Masdar to build Oman’s 1st large-scale solar and battery storage project. The 500 MW independent power producer (IPP) solar project will be integrated with a 100 MWh battery energy storage system (BESS). 

Along with Masdar, the Ibri III project will be built by Al Khadra Partners, Korea Midland Power Co. Ltd. (KOMIPO), and OQ Alternative Energy (OQAE). The consortium will design, construct, own, finance, operate, and maintain the project, and supply clean electricity to PWP under the power purchase agreement (PPA) signed.

This consortium beat 2 competing consortia – ACWA Power and TotalEnergies, and EDF Renouvelables and Korea Western Power – and Sembcorp Utilities as the individual bidder to win the project in February 2025.

The Ibri III project is scheduled to come online in Q1 2027 in Al Dhahirah Governorate, located adjacent to the 500 MW AC Ibri II solar PV project commissioned by the ACWA Power-led consortium (see 500 MW AC Ibri II PV Project Online In Oman).  

Oman’s Minister of Energy and Minerals, Salim bin Nasser Al Aufi, said that the Ibri III project will be built for an estimated OMR 115 million, which is lower than the OMR 155 million the project was previously estimated to cost (see Oman Selects Bidders For 500 MW Solar Power Plant Tender).  

The project is aligned with Oman’s target of generating 30% electricity from renewable energy by 2030 under its Vision 2040, and achieving net zero by 2050. 

“The project will reduce carbon dioxide emissions by approximately 505,000 tonnes annually, and contribute up to an additional 4 percent of renewable energy in the total electricity generation mix,” stated Al Aufi.