Thursday 28 March 2024
 
»
 
»
Story

German investors plan 1 gigawatt project in Oman

MUSCAT, April 24, 2016

A group of investors from Germany are planning to set up a mega solar power project with a generation capacity of one gigawatt  in Oman, said a senior official in a report.

The plan is to build a one gigawatt (GW) solar power project in Duqm. As many as eight companies have joined hands with the main promoter to develop the project, Dr Wais Ahmadudin, chief executive officer of Mittelpunkt Personal, was quoted as saying in a Times of Oman report.

He said that the Germany-based investment trusts will provide the required finance, technology, technically qualified professionals and training for local people to develop the project.

The Scholl Wais Beteiligungsgesellschaft Investment Trust is the main promoter, and will arrange investment from other investment trusts in Germany. Grune Planet Energie Ineternazional is the local partner for developing the project, said the report.

Ahmadudin said that both the governments of Oman and Germany are interested.

He added that an expert team would submit a detailed project proposal to the Oman government during their next visit within three to four weeks.

He further noted that it will take five years to complete the project, following the approval of the project proposal by the Oman government.

He added that the proposed solar project will provide employment to 1,000 people, mainly locals. Training will be given to Omani youth in different batches of 10 to 15 in Germany for one to three months.

Ahmadudin revealed that the required investment for the renewable energy project is not yet estimated.

The solar panels required for the project will be mainly sourced from German manufacturers to maintain better quality.

In fact, Oman has several competitive advantages for developing the entire value chain in solar industry, mainly due to the availability of sunlight and sand, added the report.




Tags: | Oman | German | solar power | Projects |

More Industry, Logistics & Shipping Stories

calendarCalendar of Events

Ads