{"id":4693,"date":"2025-09-23T03:55:00","date_gmt":"2025-09-22T23:55:00","guid":{"rendered":"https:\/\/omanet.om\/en\/news\/business\/new-500-mw-ibri-iii-agreement\/"},"modified":"2025-09-23T10:30:30","modified_gmt":"2025-09-23T06:30:30","slug":"new-500-mw-ibri-iii-agreement","status":"publish","type":"post","link":"https:\/\/omanet.om\/en\/news\/business\/new-500-mw-ibri-iii-agreement\/","title":{"rendered":"New 500 MW Ibri III Solar Project Agreement: Implications for Business Growth and Renewable Energy Investment in Oman"},"content":{"rendered":"<style>\r\n@keyframes hitv3sog-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitv3sog-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitv3sog-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes hitv3sog-badge{from{opacity:0;transform:scale(0.8)}to{opacity:1;transform:scale(1)}}\r\n<\/style><style>\r\n.hitv3sogw{container-type:inline-size;width:100%;max-width:970px;margin:0 auto;box-sizing:border-box}\r\n.hitv3soga{display:flex;flex-direction:row;align-items:center;justify-content:space-between;width:100%;box-sizing:border-box;text-decoration:none;color:#fff;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,system-ui,sans-serif;position:relative;overflow:hidden;cursor:pointer;background:linear-gradient(135deg,#111118 0%,#080808 100%);border:1.5px solid rgba(255,255,255,0.08);border-radius:14px;gap:20px;padding:20px 40px;transition:border-color .2s}\r\n.hitv3soga:hover{border-color:#dc262688}\r\n.hitv3sogg1{position:absolute;inset:0;background:radial-gradient(ellipse at 50% 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitv3sog-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OMAN OFFER<\/span><\/div>\r\n    <div class=\"hitv3sogh\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.15s;\">Websites For <span style=\"color:#dc2626;\">Omani Businesses.<\/span><\/div>\r\n    <div class=\"hitv3sogs\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.3s;\">Empower your brand with custom digital solutions designed for high conversion and market dominance.<\/div>\r\n    <div class=\"hitv3sogbl\"><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Responsive designs built for growth<\/span><\/div><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Fast loading with smart automation<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitv3sogct\">\r\n    <button class=\"hitv3sogbtn\" style=\"animation:hitv3sog-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Build Your Free Website <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitv3sogbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div>\n<p><\/p>\n<p><strong>MUSCAT<\/strong>: Nama Power and Water Procurement Company (Nama PWP) recently entered into an agreement with a consortium led by Abu Dhabi Future Energy Company (Masdar) to develop Oman\u2019s first utility-scale solar power plant equipped with a battery storage system. This project involves an investment of RO 115 million.<\/p>\n<p>Designated as the <strong>Ibri III Solar Power Project<\/strong>, the facility will be located in the Al Dhahirah Governorate and will have a capacity of up to 500 megawatts (MW), sufficient to power approximately <strong>33,000 homes<\/strong>. It will be paired with a battery storage system capable of 100 MWh.<\/p>\n<p>The consortium also includes Korea Midland Power (KOMIPO) and Al Khadra Partners (Oman). The project&#8217;s scope encompasses the design, construction, ownership, operation, and maintenance of both the solar plant and the energy storage system.<\/p>\n<p>During the opening remarks, Eng. Salim bin Nasser al Aufi, Minister of Energy and Minerals, emphasized that the Ibri III Solar Project marks a significant step in Oman\u2019s journey towards renewable energy. Spanning about <strong>10 million square meters<\/strong>, the initiative aligns with the goals outlined in <strong>Oman Vision 2040<\/strong> and aims for net neutrality by <strong>2050<\/strong>. Furthermore, it is projected to reduce carbon dioxide emissions by approximately <strong>505,000 tonnes annually<\/strong> and increase renewable energy contributions by <strong>4 percentage points<\/strong>.<\/p>\n<p>Al Aufi underscored that Oman is making steady progress towards a sustainable future by diversifying its energy sources, enhancing supply security, and solidifying its position as a leading regional hub for clean energy.<\/p>\n<p>Ahmed bin Salem al Abri, CEO of Nama PWP, remarked, \u201cThis project not only underscores Nama PWP\u2019s commitment to the energy transition but also serves as a model for effectively blending public and private sector initiatives to transform the renewable energy landscape in Oman.\u201d<\/p>\n<p>Mohammed Jameel al Ramahi, CEO of Masdar, stated, &quot;The project will address Oman\u2019s current energy requirements while fostering new job opportunities, driving economic and social development, and meeting the anticipated future energy demand.&quot;<\/p>\n<p>Eng Abdullah Rashid al Sawafi, Chief Energy Transition Officer at Nama PWP, noted the company has secured contracts with <strong>26 power generation and water desalination plants<\/strong> over the past 15 years, attracting foreign investments totaling no less than <strong>US$11 billion<\/strong>. Looking ahead, Nama PWP aims to attract an additional <strong>US$5 billion<\/strong> in foreign investments over the next five years.<\/p>\n<p>The company is also targeting an increase of up to <strong>9 gigawatts (GW)<\/strong> of renewable energy capacity by <strong>2030<\/strong>, which would represent 60% of the contracted capacity, thus facilitating the achievement of the <strong>Oman Vision 2040<\/strong> goal of deriving 30% of energy production from renewable sources.<\/p>\n<p>Ghaleb al Mamari, Acting CEO of OQ Alternative Energy, expressed that the project reinforces OQ\u2019s status as a leading entity in renewable energy, aiming to enhance energy security and amplify the economic impact of transformation in the Omani energy sector.<\/p>\n<p>Shaikha Hind bint Suhail Bahwan, Chairwoman of Al Khadra, stated, \u201cThe project will further strengthen Oman\u2019s initiatives toward energy transformation and sustainable development, benefiting both the nation and its citizens.\u201d<\/p>\n<p>Lee Young-joo, CEO of Korea Midland Power Co., Ltd., added, \u201cThe development of the Ibri III Solar and Energy Storage project reflects Oman\u2019s commitment to bolstering reliance on renewable energy sources. We eagerly anticipate collaborating to realize the objectives of Oman Vision 2040 and contribute to sustainable development in Oman.\u201d<\/p>\n<p><style>\r\n@keyframes hitl8gak-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitl8gak-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitl8gak-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes hitl8gak-badge{from{opacity:0;transform:scale(0.8)}to{opacity:1;transform:scale(1)}}\r\n<\/style><style>\r\n.hitl8gakw{container-type:inline-size;width:100%;max-width:970px;margin:0 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitl8gak-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OFFER<\/span><\/div>\r\n    <div class=\"hitl8gakh\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.15s;\">Your Website <span style=\"color:#dc2626;\">Should Sell.<\/span><\/div>\r\n    <div class=\"hitl8gaks\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.3s;\">Custom-built websites with smart automation & AI-powered features.<\/div>\r\n    <div class=\"hitl8gakbl\"><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>SEO-optimized & lightning fast<\/span><\/div><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Smart features built for your business<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitl8gakct\">\r\n    <button class=\"hitl8gakbtn\" style=\"animation:hitl8gak-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Get Free Consultation <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitl8gakbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div><br \/>\n<\/p>\n<p><strong>Special Analysis by Omanet | Navigate Oman&#8217;s Market<\/strong><\/p>\n<p>The <strong>Ibri III Solar Power Project<\/strong> marks a pivotal step for <strong>Oman&#8217;s renewable energy landscape<\/strong>, promising enhanced energy security and alignment with <strong>Oman Vision 2040<\/strong>. <strong>Businesses<\/strong> should seize opportunities in the expanding clean energy sector, while potential <strong>investors<\/strong> must consider the <strong>growing demand for sustainable solutions<\/strong> as Oman aims to boost renewable energy contributions significantly. Meanwhile, <strong>entrepreneurs<\/strong> should explore partnerships within this burgeoning market to capitalize on the anticipated <strong>economic and social development<\/strong>.<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nama Power and Water Procurement Company (Nama PWP) has signed an agreement with Abu Dhabi Future Energy Company (Masdar) to develop the Ibri III Solar Power Project in Oman, featuring a 500 MW capacity and a 100 MWh battery storage system, for an investment of RO 115 million.<\/p>\n","protected":false},"author":21,"featured_media":4694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[114],"tags":[166,244,245],"class_list":["post-4693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-oman-vision-2040","tag-renewable-energy","tag-solar-power"],"jetpack_featured_media_url":"https:\/\/omanet.om\/wp-content\/uploads\/2025\/09\/3136361.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/4693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/comments?post=4693"}],"version-history":[{"count":1,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/4693\/revisions"}],"predecessor-version":[{"id":4695,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/4693\/revisions\/4695"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media\/4694"}],"wp:attachment":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media?parent=4693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/categories?post=4693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/tags?post=4693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}