In one of its largest power capacity initiatives to date, Nama Power and Water Procurement Company (PWP) has announced plans for the development of Solar Independent Power Projects (IPPs) totaling approximately 4,500 megawatts (MW) at an estimated investment of $2.8 billion, according to Oman Daily Observer.
Combined with additional Wind IPPs and gas-based thermal power projects, Oman’s power sector investments are projected to surpass $5 billion by 2030. This ambitious strategy aims to meet the nation’s goal of generating at least 30% of its electricity from renewable sources.
The announcement was made at the Korea-Oman Renewable Energy Roundtable on December 12, 2024, under the patronage of Energy and Minerals Minister Salim bin Nasser Al Aufi. Key attendees included Kiejoo Kim, South Korea’s Ambassador to Oman, and representatives from Korean energy firms and KOTRA.
Major Solar IPPs Planned
Nama PWP Acting Director for Project Development, Eng Said Al Abri, highlighted plans for four Solar IPPs over the next six years:
- Solar PV IPPs 2030: This mega-project, with a combined capacity of 3 gigawatts (GW) and an estimated cost of $1–1.5 billion, is expected to launch in Q1 2030. A Request for Proposals (RfP) is planned for Q1 2027.
- Solar PV IPPs 2029: Featuring a 1 GW capacity, this project is valued at $600–800 million and is slated to commence operations in Q1 2029.
- Sinaw Solar PV Project: Located in North Al Sharqiyah Governorate, this 250–300 MW project is expected to cost $200–250 million, with operations starting in Q2 2028. An RfP will be issued in Q1 2025.
- Al Kamil Solar IPP: Recently tendered, this 280 MW project in South Al Sharqiyah Governorate, estimated at $200–250 million, is scheduled for operation by Q1 2028.
Additional Developments
- Ibri III Solar PV Project: Under procurement, this mid-sized project (valued at $380–400 million) is set to launch in Q1 2027.
- Wind IPPs: Five wind projects with a total capacity of 1 GW will be operational by 2027, with an investment exceeding $1.2 billion.
- Gas-Based Power: PWP plans to procure 2.4 GW of combined cycle gas turbine capacity to support grid stability, primarily in Muscat Governorate, with operations targeted for 2028–29.
Oman’s renewable energy roadmap underscores its commitment to diversifying energy resources and securing a sustainable future.
