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OPWP targets investments worth 480 million riyals

OPWP

Muscat, (Business News Report)|| The Oman Power and Water Procurement Company (OPWP) aims to attract investments worth 480 million riyals, during the coming period.

Engineer Yaqoub bin Saif Al Kiyumi, CEO of the OPWP, said that the company plans to attract investments in the coming period of more than 480 million Omani riyals, equivalent to implementing a number of projects in renewable energy and water.

In the field of renewable energy, Al Kiyumi explained that the company is currently developing two plants to produce electricity using solar energy.

The two projects in Al Dakhiliyah Governorate, with a total capacity of 1,000 MW, are currently declining, as they are expected to be awarded before the end of this year, Al Kiyumi said.

The investment of the private sector in these two projects will amount to about $600 million, he said.

He added that the OPWP also expects to invest about $300 million in wind energy projects to be established in the Jalan Bani Bu Ali in the South Sharqiyah Governorate and in Duqm in the Al Wusta Governorate, explaining that the company will begin the process of qualifying developers before the end of this year.

According to Al Kiyumi, these projects are among the national priorities set by the Oman 2040 vision, which is to preserve the environment, reduce carbon emissions, exploit natural resources, develop governorates, engage the private sector, attract foreign investment and generate job opportunities for Omani youth.

He stressed that there is a positive growth in the field of energy demand in the Sultanate of Oman, which enhances these projects, especially renewable energy projects.

With regard to the water sector, he explained that the company had contracted with the private sector to establish two desalination plants in Muscat and Barka, with an investment estimated at about $350 million.

Oman plans to launch eight renewable energy projects over the next six years, in order to meet the rising growth in electricity.

The OPWP said that Oman plans to purchase 2,200 megawatts of independent electricity production projects based on renewable energy by 2027.

The company explained that among the projects is a solar photovoltaic project with a capacity of about 500 megawatts, and it will be completed until 2027.

He pointed out that the project was planned to be established in Al Dakhiliyah Governorate, and it will be scheduled for the second quarter of 2025.

The Sultanate also plans to implement two solar energy projects in Manah and Al Dakhiliyah Governorate, with a production capacity of 500 megawatts, for the two projects, later in 2022.

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