(MENAFN- Muscat Daily) The sultanate represented by the Rural Areas Electricity Co (Raeco) and Abu Dhabi represented by the Abu Dhabi Future Energy Co (Masdar) on Wednesday signed the agreement to build a 50MW wind-based power plant in Harweel Dhofar.
The signing ceremony held under the patronage of H H Sayyid Taimur al Said was attended by Dr Sultan Ahmed al Jaber UAE Minister of State and chairman of Masdar and a number of ministers and officials from both sides.
The agreement was signed by Eng Hamad al Maghdari CEO of Raeco and Dr Ahmed Abdullah CEO of Masdar.
The project which will cover a total area of 200000 sq m is estimated to cost US$200mn and will be implemented by Masdar in favour of Raeco.
This is the first joint venture of its kind in the GCC between UAE and Oman and is expected to enhance the total capacity of electricity production in Dhofar's rural areas.
The project which will take two years to complete is expected to be operational in early 2017. The plant will produce 1200MWh of power daily.
The plant's production will account for seven per cent of the total capacity of the electricity network in Dhofar. The project will contribute to the training of Omanis and provide a number of employment opportunities for residents and locals.
Dr Jaber said that the project is the first renewable energy project implemented by Masdar in the GCC after its success in the implementation of several mega projects in UAE and in different regions of the world.
He pointed out that Oman is one of the most promising markets for clean energy due to the availability of abundant resources for wind and solar energy. 'The project in Dhofar is an important step within the process of the development of the energy sector in the sultanate as well as its role in promoting the share of renewable energy and sustainable development in region' Dr Jaber added.
Maghdari said 'The project is the result of joint cooperation between the company and Masdar. Oman has great sources of renewable energy particularly solar and wind which can be exploited for power production.'
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