14 July 2011
MUSCAT -- An agreement was signed here yesterday between Oman Power and Water Procurement Company (OPWP) and a multinational consortium to build, own and operate the Sur Independent Power Project in an investment of $1.5 billion.
The new investment was announced at a signing ceremony with the multinational consortium which consists of Marubeni Corporation, Chubu Electric Power Companies, Qatar Electricty and Water Company and Multitech LLC, a Bahwan Engineering Group company.
The Sur IPP is the largest IPP to be undertaken in the Sultanate and will provide 2,000 megawatts of capacity after full commissioning in 2014.
The project will provide much needed power to meet the growing demand for electricity on the main interconnected system and, by employing state of the art technology and innovative plant configurations, will introduce high efficiency conversion technology conserving the Sultanate's valuable natural resources and allowing older, less efficient power plants to be retired.
The competitive tendering process was undertaken by OPWP in accordance with exacting standards under the supervision of the Tender Board and the Authority for Electricity Regulation and was completed in record time.
The $1.5 billion project attracted strong international competition amongst the world's leading power producers and the selection of a consortium including Marubeni and Chubu Electric, represents the first major investment of Japanese based power companies in the power generation sector in Oman.
The partnership of the Japanese companies and Qatar Electricity and Water Company and local Omani company Multitech will deliver world class engineering capability and demonstrates the continuing commitment of the private sector to developing world class infrastructure in the Sultanate.
The power plant will be located on the Sur Industrial Estate and utilises natural gas supplied by the Ministry of Oil and Gas via its existing infrastructure in that location.
The project will come on stream in two phases, with early power of 433MW scheduled to be available from April 2013 and the remaining 1,567MW scheduled for commercial operation in April 2014.
The Power Purchase Agreement entered into between OPWP and the project company commits the parties to the purchase and sale of the full capacity of the plant over a period of 15 years.
MUSCAT -- An agreement was signed here yesterday between Oman Power and Water Procurement Company (OPWP) and a multinational consortium to build, own and operate the Sur Independent Power Project in an investment of $1.5 billion.
The new investment was announced at a signing ceremony with the multinational consortium which consists of Marubeni Corporation, Chubu Electric Power Companies, Qatar Electricty and Water Company and Multitech LLC, a Bahwan Engineering Group company.
The Sur IPP is the largest IPP to be undertaken in the Sultanate and will provide 2,000 megawatts of capacity after full commissioning in 2014.
The project will provide much needed power to meet the growing demand for electricity on the main interconnected system and, by employing state of the art technology and innovative plant configurations, will introduce high efficiency conversion technology conserving the Sultanate's valuable natural resources and allowing older, less efficient power plants to be retired.
The competitive tendering process was undertaken by OPWP in accordance with exacting standards under the supervision of the Tender Board and the Authority for Electricity Regulation and was completed in record time.
The $1.5 billion project attracted strong international competition amongst the world's leading power producers and the selection of a consortium including Marubeni and Chubu Electric, represents the first major investment of Japanese based power companies in the power generation sector in Oman.
The partnership of the Japanese companies and Qatar Electricity and Water Company and local Omani company Multitech will deliver world class engineering capability and demonstrates the continuing commitment of the private sector to developing world class infrastructure in the Sultanate.
The power plant will be located on the Sur Industrial Estate and utilises natural gas supplied by the Ministry of Oil and Gas via its existing infrastructure in that location.
The project will come on stream in two phases, with early power of 433MW scheduled to be available from April 2013 and the remaining 1,567MW scheduled for commercial operation in April 2014.
The Power Purchase Agreement entered into between OPWP and the project company commits the parties to the purchase and sale of the full capacity of the plant over a period of 15 years.
© Oman Daily Observer 2011
