Oman’s Public Establishment for Industrial Estates Madayn, Mubadrah, and Solar Wadi have signed an agreement to build a 100MW solar PV farm in Suhar Industrial City.
Madayn said in a statement that the initiative is part of its ambitious plan of meeting a major share of its tenants’ energy needs with sustainable renewable energy, in line with Oman Vision 2040’s sustainability goals.
Mr. Mustafa Al Lawati, CEO of Mubadrah said, “This agreement comes along the lines of the efforts undertaken by Madayn in moving towards more sustainable energy sources and helping to reduce the carbon footprint of the industrial sector in Oman, as set out in Vision 2040, the gateway to Oman becoming a developed nation under the guidance of His Majesty Sultan Haitham bin Tarik.”
The ultimate aim is to provide all Madayn tenants with saving on their electricity costs, while also attracting investors to invest in the Solar Park’s development. “This goal helps to increase the competitiveness of all companies within Madayn industrial cities and free zones, which will consequently create a positive impact on their business operations and Oman’s economy as a whole,” according to Mr. Al Lawati.
“The aim of this initiative and collaboration is to enable us to work together in our combined efforts to deliver a sustainable, ecological, more economical, and socially conscious power solution for all tenants at Suhar Industrial City from a renewable solar energy source, in so doing contributing to the ambitions and goals of the Omani government, under the leadership of His Majesty Sultan Haitham bin Tarik, in transforming Oman’s economy into a developed, diversified and sustainable national economy as a set out by Oman Vision 2040.”
“This project represents a strategic investment for Solar Wadi, as one of the first independent Omani power companies that invest in, builds and operates renewable energy power plants, and is only the first in several investments planned for the Omani market which is targeted as a total investment of $0.75bn (RO 300mn) in developing a combined capacity of circa 1 GW of Solar PV Energy plants across the Sultanate,” Mr. Faouri added.
Furthermore, Madayn and its partners plan to roll out the Madayn Renewable Energy Project initiative across all industrial cities and free zones in the coming years, according to the reports.