The 500MW solar plant, awarded by Oman Power and Water Procurement (OPWP), is anticipated to commence operations by 2025 and is supported by a 20-year power purchase agreement with OPWP
Jinko, Sembcorp awarded solar project in Oman. (Credit: MICHAEL WILSON on Unsplash)
Jinko Power, together with its partner Sembcorp Utilities, has won a contract to develop, own and operate the 500MWac Manah II Solar PV project in Manah, Oman.
Oman Power and Water Procurement (OPWP) awarded the contract after a competitive bidding process, conducted in September last year.
In 2019, Jinko Power participated in the request for qualification stage for the project and teamed up with Sembcorp Utilities last year, to bid for the project.
Sembcorp Utilities will own an 80% stake and Jinko Power the remaining 20% in the solar project.
The 500MW solar plant is anticipated to commence operations by 2025 and will be supported by a 20-year power purchase agreement with OPWP.
Jinko Power International Business president Charles Bai said: “We are honoured and delighted with the award of this landmark project together with our partner Sembcorp.
“We value the trust put in us by OPWP and other stakeholders in Oman. This project marks our first entry into the Oman renewables market and is hopefully one of the many more to come in the country.”
Jinko Power International managing director and head of bidding Mothana Qteishat added: “This bid reaffirms once again Jinko’s ability to succeed in highly competitive tenders and deliver value to stakeholders through Jinko’s deep expertise across the full value chain of solar project development.”
Sembcorp is expected to finance the project through a mix of internal cash resources and external bank borrowings.
The project is said to complement the company’s existing capabilities in the region, where it owns 40% of the Salalah Independent Water and Power Plant in the Dhofar region, Oman.
Established in 2011, Jinko Power is engaged in developing, building, financing, owning, and operating solar power plants.
The company is engaged in developing a pipeline of GW-scaled projects in our key markets including China, the Middle East, Europe, Latin America, and Asia Pacific.
Sembcorp Industries UK and Middle East CEO Andy Koss 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.”