INSEAD Day 4 - 728x90

2PointZero reports strong H1

Expansion drives earnings, revenue growth.

Borouge profit climbs 23%

Prices, recovery boost quarterly earnings

e& posts 11.6% revenue growth

The H1 net profit hits $1.63 billion.

TECOM profit up 9%

Revenue, occupancy drive earnings higher

DAE H1 profit $229m

Growth triggered by higher earnings, stron cash flow

Oman to award solar energy projects worth US$777m to investors

Work on the two stations will begin during the third quarter this year and the project is due for commercial operations by mid-2025.
  • Nearly 2 million solar panels will be installed in these two stations, which will be the largest solar panel project for Oman
  • The projects, which will jointly produce 1,000MW of energy, are set to come up on a 15 million sq m area within the Governorate of A’Dakhiliyah

Muscat, Oman -Oman Power and Water Procurement Company (OPWP) is set to award solar energy projects worth $777 million to international investors after securing approvals from the Authority for Public Services Regulation (APSR).

According to media reports, the Manah 1 and 2 projects, which will jointly produce a total of 1,000MW, are set to come up on a 15 million sq m area within the Governorate of A’Dakhiliyah.

Also read: UAE, Oman agree to cooperate on development, environmental protection

About 2 million solar panels will be installed in these two stations, which will be the largest solar panel project for Oman.

These two stations represent the second project to be floated by OPWP to contract the purchase of capacity generated by renewable energy, stated the report. 

Work on these two stations will begin during the third quarter this year and the project is due for commercial operations by mid-2025.

Last year, an international consortium comprising of Oman Oil Company Exploration and Production (OQ), InterContinental Energy, and EnerTech announced progress on the development of the Green Energy Oman (GEO) integrated green fuels mega project.

This project aims to produce 25 gigawatts (GW) of renewable solar and wind energy, which will be used to produce over 1.5 million tons of carbon-free hydrogen per year.