German investors plan 1GW-capacity solar project in Oman

Business Saturday 23/April/2016 18:42 PM
By: Times News Service
German investors plan 1GW-capacity solar project in Oman

Muscat: A group of investors from Germany is planning to build a mega solar power project with a generation capacity of one gigawatt (equivalent to 1,000 megawatt), a senior official from a Germany company told the Times of Oman.
“We are planning to build a one gigawatt (GW) solar power project in Duqm. As many as eight companies have joined hands with the main promoter to develop the project,” said Dr. Wais Ahmadudin, chief executive officer of Mittelpunkt Personal GmbH.
He said the Germany-based investment trusts will provide the required finance, technology, technically qualified professionals and training for local people to develop the project.
The Scholl Wais Beteiligungsgesellschaft mbH Investment Trust is the main promoter and the company will arrange investment from other investment trusts in Germany. Grune Planet Energie Ineternazional LLC is the local partner for developing the project.
“Both the governments of Oman and Germany are interested.”
Dr. Ahmadudin said an expert team would submit a detailed project proposal to the Oman government during their next visit within three to four weeks. “It takes five years to complete the project, once the project proposal is approved by the Oman government. We are also looking for local investors.”
He added that the proposed solar project will need 1,000 people, mainly locals. Training will be given to Omani youth in different batches of 10 to 15 in Germany for one to three months.
He also noted that the required investment for the renewable energy project is not yet estimated.
The solar panels required for the project will be mainly sourced from German manufacturers to maintain better quality.
In fact, Oman has several competitive advantages for developing the entire value chain in solar industry, mainly due to the availability of sunlight and sand.
Oman’s Rural Areas Electricity Company (Raeco) plans to raise the contribution of renewable energy (especially solar energy) to total power generation to 25 per cent within the next five years.