Oman's Sur IPP bid winners announced
Marubeni-led consortium scoops $1.5bn contract for Sultanate?s IPP
A consortium comprising Marubeni Corporation, Chubu Electric Power Companies, Qatar Electricity and Water Company and Multitech LLC has signed a build, own and operate agreement with OPWP for Oman’s Sur Independent Power Project.
The $1.5 billion investment marks the largest IPP ever undertaken in the Sultanate, and is planned for commissioning in 2014, when it will provide 2,000 megawatts to the national grid.
It’s also the first major investment by a Japanese-based power company in Oman.
The plant is planned for construction on the existing Sur Industrial Estate, and will run on natural gas provided by the Sultanate’s ministry. Split into two phases, the initial phase of the Sur IPP will come on stream with 433 megawatts in April 2013, and the following 1,567 a year later.
As the offtaker, OPWP – the Oman Power and Water Procurement Company – has committed to the purchase of the plant’s full capacity for 15 years after the inauguration date.