Muscat: Oman Power and Water Procurement Company (OPWPC) plans to attract investments of more than OMR480 million, or $1.250 billion, for several projects in renewable energy and water sector, said CEO of the company Yaqub bin Saif Al-Kiyumi.
In a statement to the Oman News Agency, the CEO said the company is planning to develop two solar power plants in Al Dakhiliyah Governorate, with a total capacity of 1,000 MW. The projects are expected to be awarded before the end of this year. Private investment in these projects is estimated at about $600 million.
The company also plans to invest about $300 million in wind energy in the Wilayat of Jalan Bani Bu Ali in South Sharqiyah Governorate and in the Wilayat of Duqm in the Al Wusta Governorate, he said adding that the company will begin the process of selecting developers before the end of this year.
He pointed out that these projects come within the national priorities set by the Oman Vision 2040, of preserving environment, reducing carbon emissions, exploiting natural resources, developing governorates, engaging the private sector, attracting foreign investments and generating job opportunities for Omani youth.
Yaqub bin Saif Al-Kiyumi stressed that there is a positive growth in energy demand in the Sultanate of Oman, especially renewable energy projects.
With regard to water sector, Yaqub bin Saif Al-Kiyumi said the company had contracted with the private sector to establish two desalination plants in Muscat and Barka, with an investment of about $350 million.
To enhance efficiency and reduce operational and administrative costs of electricity, water and sewage companies, Nama Group continues to work on implementing the royal directives regarding the integration of distribution and supply companies, he said.