Oman Names Winner of RO 155 Million Ibri III Solar IPP Project: What This Means for Renewable Energy Investors and Businesses in Oman
MUSCAT: A consortium comprising Abu Dhabi Future Energy Company (Masdar), Korea Midland Power (KOMIPO), and Al Khadra Partners (Oman) has been declared the winner of an international competitive tender to develop a new 500 MW solar Independent Power Project (IPP) in the Wilayat of Ibri, located in Oman’s Al Dhahirah Governorate.
A Power Purchase Agreement (PPA) for the Ibri III IPP is set to be signed tomorrow, Monday, September 22, 2025, between the winning consortium and Nama Power & Water Procurement (PWP), the national agency responsible for new capacity procurement. The signing ceremony will take place under the patronage of Eng. Salim bin Nasser al Aufi, Minister of Energy and Minerals.
The Ibri III Solar IPP, scheduled to commence commercial operations in the first quarter of 2027, will be Oman’s fourth large-scale solar energy project. It will be constructed on a 10 million square meter site adjacent to the 500 MW Ibri II Solar IPP—the country’s first solar PV project, which began operation in January 2022.
The Masdar-led consortium prevailed over three other bidders, with the project estimated at RO 155 million. Other competitors included ACWA Power and TotalEnergies Renewables; EDF Renouvelables and Korean Western Power (KOWEPO); and Sembcorp Utilities.
Several wind and solar projects are planned across Oman over the next six years, aligning with the country’s strategic objective to generate 30% of its electricity from renewable sources by 2030. This target is set to increase to 60–70% by 2040 and ultimately reach 100% by 2050. By 2030, Oman aims to achieve a renewable energy capacity of approximately 8 gigawatts.
Among these projects are at least five wind IPPs, totaling around 1 GW, to be developed in Jaalan Bani Bu Ali, Al Duqm, Mahout, Harweel, and Sadah. Additionally, a series of new solar IPPs with a combined capacity of about 4.5 GW are planned within the same timeframe.
تحلیل ویژه از عمانت | بازار عمان را کشف کنید
The awarding of the Ibri III 500 MW solar IPP to a high-profile international consortium marks a significant leap toward Oman’s ambitious renewable energy targets. For businesses, this signals a burgeoning market in clean energy infrastructure with expansive opportunities in project development, technology, and supply chains. Smart investors and entrepreneurs should now focus on leveraging the growing pipeline of solar and wind projects, positioning themselves to capitalize on Oman’s transition to at least 30% renewable electricity by 2030 and its longer-term 100% renewable vision by 2050.
