ACWA Power team toasts 500MW solar success in Oman

• Ibri 2 project will supply electricity to the Oman Power and Water Procurement Company for over 15 years

Saudi programmer ACWA Power, Gulf Investment Corporation and also Alternative Energy Projects have actually ushered in the 500MW Ibri 2 solar farm in Oman.

Ibri 2 will generate renewable resource over a 15-year duration for the Oman Power as well as Water Procurement Company.

The project represents an investment of $417m as well as is Oman's biggest utility-scale renewable resource project.

It was established on a develop, have, run basis. Construction was finished in 13 months, despite disruptions to the supply chain as a result of the Covid-19 pandemic.

The project is an action in the direction of attaining the Oman 2040 Vision, that includes 20% of renewable resource production by 2030 and also approximately 39% by 2040.

ACWA Power chairman Mohammad Abunayyan said: "As a company that is driving the transition globally, we are incredibly honored to play an essential function in supporting the Sultanate of Oman's enthusiastic Vision 2040 energy transition goals.

" Since our market entry into Oman in 2011, we have generated substantial international straight investment, due to the fact that we believe strongly in its vision and also future.

" Together with our partners Gulf Investment Corporation and also Alternative Energy Projects Co, we have leveraged our mixed toughness in investments, market proficiency as well as technical expertise to accomplish the fast and successful completion of the landmark Ibri 2 project, in spite of tough conditions imposed by the Covid-19 pandemic.

" I want to take this opportunity to thank the Government of Saudi Arabia for their unrelenting assistance in making it possible for the growth of the project in record time."