A unit of Qatar’s Nebras Energy has been awarded two contracts to develop gas-fired combined-cycle power plants in Oman with a combined capacity of nearly 2.6 gigawatts (GW), state-owned Qatar News Agency (QNA) reported on Thursday.

The projects comprise the 1,700-megawatt (MW) Misfah Independent Power Project (IPP) in Muscat governorate and the 877-MW Duqm IPP in Wusta governorate, the QNA report said, quoting a company statement.

Construction on both power plants is scheduled to begin later this month, the report said. Initial commercial operations are expected in April 2028, with full commercial operations targeted for April 2029.

The projects, procured under the Build-Own-Operate (BOO) model, are backed by 20-year power purchase agreements (PPAs) with Oman Power and Water Procurement Company (Nama).

The Misfah IPP will be developed by a consortium led by Nebras Energy (49 percent) and including the UAE’s Etihad Water and Electricity Company (44 percent) and Bahwan Infrastructure Services Company (7 percent).

Nibras Energy's subsidiary has a 30 percent stake in the Duqm IPP, which is being developed by a consortium led by Korea Western Power Company - KOWEPO (35 percent) with Etihad Water and Electricity Company (30 percent), and Bahwan Infrastructure Services Company (5 percent).

Oman Daily Observer said on Thursday that the two projects, worth a combined 1 billion Omani riyals ($2.6 billion), will be carbon-capture ready.

Other bidders in the race for the two IPPs included Saudi Arabia’s ACWA Power and a consortium of China’s Shenzhen Energy Group and local firm Oman National Engineering & Investment Co.

Request for Qualification (RFQ) invite for the projects were issued in January 2025.

(Writing by Deva Palanisamy; Editing by Anoop Menon) 

(anoop.menon@lseg.com)

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