The latest work of SolarPower Europe's Global Markets workstream contains the most recent economic and political advancements in the country, including the announcement of Oman's new decarbonisation target for 2050, and the latest legislative amendments of the electricity market, including the creat Contact online >>
The latest work of SolarPower Europe''s Global Markets workstream contains the most recent economic and political advancements in the country, including the announcement of Oman''s new decarbonisation target for 2050, and the latest legislative amendments of the electricity market, including the creation of a new spot market for electricity, following the most recent auction announcements, and the latest energy mix data.
The report outlines the country''s targets to reach net-zero; Oman will need to install a minimum of 13 GW of solar in total by 2030 to meet its ambitious net-zero targets.
Oman has issued a tender to develop its next large-scale solar power project just days after financial close was announced on another.
Nama Power and Water Procurement, the sole purchaser of electricity from independent power plants in Oman, has issued a request for qualification for the 500MW Ibri III project in the sultanate’s north-west region.
The tender is targeting investors for developing Oman’s fourth solar project. Developers have until February 19 to submit a statement of qualification.
The $400 million solar park will span 10 million square metres and commercial operations should start by the end of 2026, according to the tender document seen by AGBI.
Ibri II, Oman’s first 500MW solar project, was inaugurated in 2022, and other large scale solar parks are in the pipeline.
A consortium led by EDF Renewables and Korea Western Power Corporation announced last week that it had reached financial close on the Manah 1, a 500MW plant located 175km south of Muscat.
Financing for this project was secured through an equity and loan scheme from local and international financial institutions, including the Export-Import Bank of Korea, Société Générale and Oman Bank Muscat.
Once commissioned, the Manah 1 project will be able to power more than 50,000 Omani households with clean energy, while offsetting more than 700,000 tonnes of CO2 per year.
The project is one of two grid-connected solar projects each of around 500MW, that will be built side-by-side at Manah.These twin schemes, due to start in 2025, will roughly treble Oman''s renewable energy capacity to around 1550MW, up from around 550MW.
Oman is targeting a roughly 40% contribution from renewables to its electricity requirements by 2040.
The sultanate has led GCC countries in the development of independent water and power plants since 1994, when it launched its first independent power producer.
Other projects include a wind farm in Dhofar, 11 solar-diesel hybrid facilities, and the Sahim initiative, which installs small-scale solar panels on residential and commercial buildings.
Oman is also planning to build a hydrogen-centric economy by 2040, with an annual production of green and blue hydrogen of approximately 30GW by 2040.
The hydrogen rainbow
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Nama Power & Water Procurement Company (Nama PWP), the exclusive purchaser of power and water output in Oman, has unveiled plans for a substantial new solar PV-based Independent Power Project (IPP) named ‘Solar PV IPPs 2029’.
Scheduled for launch in 2029, this ambitious venture will encompass a combined capacity of 1000 MW, consisting of two IPPs with individual capacities of 500 MW each.
The procurement strategy for this project follows a similar approach to recent awards, including the Manah I & II Solar PV IPPs, which secured a total of 500 MW capacity for simultaneous development at a site in the Wilayat of Manah.
PWP’s 7-Year Statement, outlining the electricity demand forecast from 2023 to 2029, explains that ‘Solar PV IPPs 2029’ aims to achieve single awards for each site, granted to separate developers.
With an anticipated maximum contracted capacity of approximately 500 MW per project using PV technology, this initiative aligns with PWP’s overarching goal of obtaining 30% of Oman’s power needs from renewables by 2030. This upcoming project follows the ‘MIS Solar IPP 2027’, a 500 MW utility-scale solar PV endeavor intended for Al Wusta Governorate.
The initiation of procurement for the fifth solar PV project within PWP’s renewable energy initiative is anticipated to start in 2025, with the aim of achieving commercial operation by 2027.
The ‘Ibri III Solar IPP’, part of a series alongside the operational Ibri II Solar IPP, aims to contribute to Oman’s solar power capacity. The Manah I and Manah II Solar PV IPPs are also part of this plan, with commercial launch dates set for 2025.
By 2029, Oman aims to achieve a solar PV generation capacity of around 3,500 MW. This will be complemented by an estimated 800 MW of wind-based generation from new wind farm projects planned across various governorates.
The Sultanate of Oman, together with Saudi Arabia and the United Arab Emirates, will account for the lion''s share of the estimated 100 gigawatts (GW) of solar capacity expected to be developed across the Middle East by 2030, according to a leading energy think-tank.
Rystad Energy, a Norwegian based independent research and energy intelligence company, named Oman among a tiny handful of regional players that are tipped to fuel the growth of solar-based renewables in the region.
Reviewing projections in renewable energy development across the Middle East, Rystad Energy highlighted the region''s exceptional solar energy potential. In particular, Oman, Saudi Arabia and UAE – endowed with solar irradiation of more than 2,000 kilowatt-hours (kWh) per square meter annually - are well-placed to harness this potential, it noted in a new report published on Tuesday.
Given this potential, solar capacity in the Middle East is expected to reach 23 GW by the end of 2024, up from over 16 GW at the end of 2023. "Projections indicate that by 2030, the capacity will surpass 100 GW, with green hydrogen projects contributing to an annual growth rate of 30%," said Rystad Energy, noting that Oman, Saudi Arabia and the UAE are on track to collectively account for nearly two-thirds of the region''s total solar capacity by the end of the decade.
According to the report, Oman is anticipated to witness a dramatic increase in its renewables capacity, from around 700 MW presently to almost 3 GW in 2025, rising to 4.5 GW by 2030. As a result, renewable energy will have a 30% share of overall generation capacity by the end of this decade, up from 3% presently. Five new onshore wind power projects currently under procurement will contribute around 1 GW of capacity.
While all of this new capacity is primarily aimed at enabling the country''s transition away from gas-fired generation, massive new investments in upstream solar and wind farms are anticipated as a new green hydrogen sector begins to take shape in the coming years.
"(Oman) envisions becoming the largest exporter of green hydrogen by 2030 – with production of up to 1.15 million metric tonnes per annum – and has dedicated 50,000 square kilometers of land for hydrogen project development," Rystad Energy stated in its report.
The international think-tank sees solar capacity accounting for more than half of total power supply in the Middle East by 2050, up from a mere 2% as of the end of 2023. "
By 2050, renewable energy sources, including hydro in addition to solar and wind, are expected to constitute a staggering 70% of the Middle East''s power generation mix. This marks a monumental leap from the mere 5% recorded at the end of 2023, signaling a transformative shift in the region''s energy landscape," it added.
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