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The Oman Power and Water Procurement company has announced it is in negotiations with the first of three groups shortlisted as preferred bidders for the Sultanate’s biggest-ever independent power project.
Mitsu, Siemens and Marubeni are all leading consortiums on the tender board’s preferred bidder list, and are competing for the contract to develop the 1,500-megawatt IPP.
Marubeni has teamed up with Qatar Electricity and Water Company, Chubu Electric and Multitech to put its bid together, and the Mitsu consortium includes the Oman Oil Company and TAQA. Negotiations on the $1.5bn fast-track project will take place during this week, with the plant scheduled for full commissioning before the peak summer demand in 2014.
100 per cent of the plant’s output will go to OPWP as part of a 15-year agreement with the winning bidder, and consortiums also have the option to submit plans for projects of up to 2,000 megawatts.
The offtaker is expected to sign the Power Purchase Agreement with the winning bidder in July.