Singapore-based energy company Sembcorp Industries (Sembcorp) announced on Monday that it has, through an 80 percent-owned joint venture to be set up by its wholly-owned subsidiary Sembcorp Utilities with China's Jinko Power Technology (Jinko Power), received an award by Oman Power and Water Procurement Company (OPWP) to build, own and operate (BOO) the Manah Solar II Independent Power Project (IPP) in Manah, Oman.
The 500 megawatt (MW) solar power plant, Sembcorp's first greenfield renewables project in the Middle East, is expected to be operational by 2025 and will be backed by a 20-year power purchase agreement with OPWP, Sembcorp said in a press statement.
Andy Koss, CEO of UK & Middle East, Sembcorp Industries, said, "The Manah Solar II IPP will mark Sembcorp's first renewables project in the Middle East. To be constructed in the Sultanate of Oman, the project will leverage our strong network and presence for over 10 years in the country built through Salalah Independent Water and Power Plant. We are delighted to be awarded this project and look forward to working with Jinko Power to support the global energy transition."
The statement said the project would be financed through internal cash resources and external bank borrowings.
[Anoop Menon and Bhaskar Raj]
More: Oman awards 500MW Manah Solar II IPP to Sembcorp Utilities-Jinko Power JV