A consortium composed of Saudi Arabia-based utility developer ACWA Power, Kuwait’s Gulf Investment Corporation (GIC) and Alternative Energy Projects Company (AEPCo) signed a contract and agreements with the Oman Power and Water Procurement Company (OPWP) to develop a 500-megawatt solar PV power plant in Ibri, Oman.

It will be developed on a BOO (build, own, operate) basis, which includes the development, finance, construction and operation of the solar power plant.

The project, dubbed Ibri-2 Independent Power Producer (IPP), will be the first utility-scale solar power project in Oman and will utilize Solar PV technology to yield 500MWac of power.

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