Nama Power and Water Procurement Company (PWP), Oman’s sole entity responsible for power and water procurement, has issued an Expression of Interest (EOI) for the development of two new independent power projects (IPPs) with a combined capacity of 2,400 megawatts (MW).
The projects are to be executed on a build, own, and operate (BOO) basis, supporting the Sultanate’s interconnected power grid.
The planned combined cycle gas turbine (CCGT) power plants will contribute to Oman’s energy infrastructure, with an initial generation capacity of 1,700 MW to be operational by April 2028.
The remaining capacity will follow by April 2029 to ensure alignment with the country’s growing electricity demand.
PWP is adopting a procurement framework consistent with its established practices for previous IPPs, including risk allocation and contractual structures.
The projects will be financed by the private sector and will involve agreements for power purchase, natural gas supply, and electrical connections, following a framework similar to that of previous projects.
“The structure of these agreements has been proven to attract substantial private sector investment, ensuring efficient delivery of critical infrastructure,” PWP said in its statement.
Key project features:
- Capacity: 2,400 MW total, with early generation of 1,700 MW by 2028.
- Technology: Combined cycle gas turbines (CCGT).
- Funding: Fully financed by the private sector.
- Procurement Model: Build, own, and operate (BOO).
The project will cater to Oman’s main interconnected system (MIS) grid, which serves the majority of the country. The invitation aligns with Oman’s broader strategy to enhance energy security and meet increasing electricity demand in a rapidly developing economy.
PWP has a track record of successfully managing similar IPP projects that aim to position Oman as a regional leader in private sector-driven energy projects.
