Qatari energy company Nebras Power has entered into a deal with Qatar Electricity and Water Company (QEWC) to buy a key stake in Phoenix Power Company, which owns and operates one of the largest independent power projects (IPPs) in Oman.

The acquisition, expected to be completed this month, covers QEWC’s 9.75 per cent stake in Phoenix Power and a 15 per cent stake in Phoenix Operating and Maintenance Company, reported Oman Observer.

The Sur IPP, with an installed capacity of 2,000 MW, represents about 28 per cent of the total installed capacity for electrical connection system in Oman, the report added.