02 March 2016
Dhofar International Development & Investment Holding Co SAOG (DIDIC) confirmed yesterday that a consortium in which it is a member has been awarded a contract to build the 3,219 MW Ibri-Sohar3 power project -- the largest single-tendered Independent Power Project (IPP) in the Sultanate. In a filing to the Capital Market Authority, DIDC said: "We are pleased to announce that a consortium comprising Mitsui & Co Ltd of Japan, International Company for Water and Power (ACWA Power) and Dhofar International Development & Investment Holding Co SAOG (DIDIC) has been awarded the 3,219 MW Ibri Sohar3 power generation project."
Both plants, it stated, will be owned and operated under a 15-year power purchase agreement with Oman Power and Water Procurement Company (OPWP). "This investment is part of our new strategic diversified investment plan and the management anticipates that this strategic investment will be of substantial benefit to DIDIC," it added. Mitsui, as the lead investor with a 50.1 per cent shareholding and the managing member of the Consortium, will help to meet that demand by newly constructing two natural gas-fired combined cycle power plants. Total investment in the IPPs, which together represent the single biggest procurement of electricity generation capacity by the state-owned power procurer and offtaker, is estimated at $2.3 billion.
ACWA Power, with a 44.9 per cent stake, and DIDIC, with a 5 per cent shareholding, are investors in the two projects. As the selected developer, the consortium will construct, maintain and operate the two power plants in line with a series of project agreements due to be signed with various stakeholders next month. At Ibri, the consortium is required to develop a 1,450MW generation capacity IPP at a site adjoining the Ibri Industrial Estate in Dhahirah Governorate. The Sohar-3 IPP - a 1,700MW plant - will come up within the Sohar Industrial Port. Commercial operation dates are January 2019 for Sohar-3 and April 2019 for Ibri.
Dhofar International Development & Investment Holding Co SAOG (DIDIC) confirmed yesterday that a consortium in which it is a member has been awarded a contract to build the 3,219 MW Ibri-Sohar3 power project -- the largest single-tendered Independent Power Project (IPP) in the Sultanate. In a filing to the Capital Market Authority, DIDC said: "We are pleased to announce that a consortium comprising Mitsui & Co Ltd of Japan, International Company for Water and Power (ACWA Power) and Dhofar International Development & Investment Holding Co SAOG (DIDIC) has been awarded the 3,219 MW Ibri Sohar3 power generation project."
Both plants, it stated, will be owned and operated under a 15-year power purchase agreement with Oman Power and Water Procurement Company (OPWP). "This investment is part of our new strategic diversified investment plan and the management anticipates that this strategic investment will be of substantial benefit to DIDIC," it added. Mitsui, as the lead investor with a 50.1 per cent shareholding and the managing member of the Consortium, will help to meet that demand by newly constructing two natural gas-fired combined cycle power plants. Total investment in the IPPs, which together represent the single biggest procurement of electricity generation capacity by the state-owned power procurer and offtaker, is estimated at $2.3 billion.
ACWA Power, with a 44.9 per cent stake, and DIDIC, with a 5 per cent shareholding, are investors in the two projects. As the selected developer, the consortium will construct, maintain and operate the two power plants in line with a series of project agreements due to be signed with various stakeholders next month. At Ibri, the consortium is required to develop a 1,450MW generation capacity IPP at a site adjoining the Ibri Industrial Estate in Dhahirah Governorate. The Sohar-3 IPP - a 1,700MW plant - will come up within the Sohar Industrial Port. Commercial operation dates are January 2019 for Sohar-3 and April 2019 for Ibri.
© Oman Daily Observer 2016
