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Sur IPP to be based on superior power generation technology

Oman Daily Observer - MUSCAT - Oman Power and Water Procurement Company SAOC (OPWP), which signed a landmark agreement on Wednesday linked to the development of the nation’s largest green-field power project at Sur, says the state-of-the mega-venture will support Oman’s economic development.

“The Sur IPP is the largest Independent Power Project (IPP) to be undertaken in the Sultanate and will provide 2,000 megawatts of capacity after full commissioning in 2014.

The project will provide much needed power to meet the growing demand for electricity on the main interconnected system and, by employing state of the art technology and innovative plant configurations, will introduce high efficiency conversion technology conserving the Sultanate’s valuable natural resources and allowing older, less efficient power plants to be retired,” the state-run power offtaker said in a statement.

“Commitment to megaprojects such as the Sur IPP is essential to support the economic development of the Sultanate,” it further added.

At a high-profile ceremony held at the InterContinental Muscat on Wednesday, OPWP signed Project Agreements with a consortium consisting of Marubeni Corporation, Chubu Electric Power Co Inc, Qatar Electricity and Water Company and Multitech LLC, a Bahwan Engineering Group company to build own and operate the Sur Independent Power Project.

 

The Project Agreements were signed on behalf of the Government by Dr Abdulmalik Abdullah al Hinai, Deputy Chairman of the Electricity Holding Company; Nasser bin Khamis al Jashmi, Under-Secretary for the Ministry of Oil and Gas; Ahmed Hassan al Dheeb, Under-Secretary for the Ministry of Commerce and Industry for Commerce and Industry and Deputy Chairman of the Public  Establishment for Industrial Estates; Engineer Ahmed Saleh al Jahdhami, Deputy Chairman of Oman Power and Water Procurement Company; and Saif bin Abdullah bin Rashid al Sumry, Chairman of Oman Electricity Transmission Company.

For the Project Founders, the Project Founders’ Agreement was signed by Ahmed Suhail Bahwan, Director of Multitech LLC, Shinichiro Ogoshi, Senior Operating Office of Power Projects and Infrastructure Division, Marubeni Corporation; Hiroshi Ichihara, Executive Officer — General Manager, International Business Dept, Chubu Electric Power Co Inc; and Fahad Hamad al Mohannadi — General Manager Qatar Electricity and Water Company.

The Power Purchase Agreement was signed on behalf of the Project Company (Phoenix Power Company) by Shinichiro Ogoshi, Senior Operating Officer of the Power Projects and Infrastructure Division of Marubeni Corporation.

The competitive tendering process was undertaken by OPWP in accordance with exacting standards under the supervision of the Tender Board and the Authority for Electricity Regulation and was completed in record time.

The $1.5 billion project attracted strong international competition amongst the world’s leading power producers and the selection of a consortium including Marubeni and Chubu Electric, represents the first major investment of Japanese based power companies in the power generation sector in Oman.

The partnership of the Japanese companies and Qatar Electricity and Water Company and local Omani company Multitech will deliver world class engineering capability and demonstrates the continuing commitment of the private sector to developing world class infrastructure in the Sultanate.

The power plant will be located on the Sur Industrial Estate and utilises natural gas supplied by the Ministry of Oil and Gas  via its existing infrastructure in that location.

The project will come on stream in two phases, with early power of 433MW scheduled to be available from April 2013 and the remaining 1,567MW scheduled for commercial operation in April 2014.

The Power Purchase Agreement entered into between OPWP and the project company commits the parties to the purchase and sale of the full capacity of the plant over a period of 15 years.

The project agreements comprise a Power Purchase Agreement with OPWP; Natural Gas Sales Agreement with the Ministry of Oil and Gas; Usufruct Agreement with the Public Establishment for Industrial Estates; Electrical Connection Agreement with Oman Electricity Transmission Company and Project Founders’ Agreement with the Electricity Holding Company.

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Trading Day 27-10-2014
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