One of the first independent Omani power companies that invests in, builds and operates renewable energy power plants – is targeting a number of investments worth around RO300mn to develop solar power plants across Oman.

The company plans to develop a combined capacity of circa 1GW of solar PV energy plants across the sultanate, according to Yazan Faouri, CEO of Solar Wadi.

On Tuesday, Solar Wadi, Madayn and Mubadrah signed an agreement to build a 100MW solar PV farm in Suhar Industrial City to be operational by next year.

“This project represents a strategic investment for Solar Wadi and is only the first in a number of investments planned for the Omani market which is targeted as a total investment of RO300mn in developing a combined capacity of circa 1GW of solar PV energy plants across the sultanate,” Faouri said in a statement.

The investments, Faouri said, will be made mainly in Madayn Renewable Energy Project initiative over all the industrial cities and free zones under Madayn umbrella, along with a significant number of other solar plants being developed for the wider private sector companies and governmental entities.

Madayn and its partners plan to role out the Madayn Renewable Energy Project initiative across all industrial cities and free zones in the coming couple of years.