With Ireland having confirmed the winning bidders from its inaugural... Read more →
Omani oil major tenders for 100MW PV plant
Omani oil group Petroleum Development Oman has requested expressions of interest for the construction, financing, and operation of a 100MW solar PV project in the south of the Sultanate of Oman, just days after the country itself launched a 500MW solar procurement.
Under the terms of the 100MW tender, PDO will act as offtaker and buy energy from the Amin-located plant under a 23-year PPA.
The group has requested EOI submissions by the end of January. It will then circulate an RfP, with bids to be submitted in May. It envisages selecting a winning bidder in June.
The scheme is the first renewable energy project being implemented as an independent power producer (IPP) by PDO in the Sultanate.
The project will be “the subject of a competitive tender and a contractual framework substantially similar to that used in previous IPPs and independent power procured in recent years in the Sultanate of Oman, and in line with international best practice,” PDO said in a statement on January 4.
The project is expected to be privately financed through a combination of sponsor and third party equity and project finance under a similar structure to previous IPPs.
It is intended that PDO will sign a direct agreement with the project’s lenders setting out financial commitments, the group said.
The 100MW EOI comes just days after Oman confirmed a build-own-operate competitive tender for a 500MW PV project which has an anticipated capex of USD 500m.
The Oman Power and Water Procurement Company (OPWP) plans to award the contract for the Ibri-located development in the final quarter of 2018, with commissioning targeted for 2021.