UAE-based renewable energy company Masdar (Abu Dhabi Future Energy Company PJSC) announced on Wednesday that its consortium has awarded the Engineering, Procurement and Construction (EPC) contract for the Ibri III Independent Power Project (IPP) to China Power Engineering Consulting Group International Engineering Co. (CPECC), a wholly owned subsidiary of Energy China (China Energy Engineering Group Co).
The 115 million Omani riyals ($299 million) Ibri III IPP is Oman’s first utility-scale solar-plus-battery project, combining a 500 megawatt (MW) solar PV plant with a 100 MWh battery energy storage system (BESS).
Once operational, it will supply enough power for around 33,000 homes and help avoid more than 500,000 tonnes of CO₂ emissions annually.
In September 2025, Nama Power and Water Procurement (PWP) had signed the power purchase agreement for the project with Masdar-led consortium, which included Al Khadra Partners, Korea Midland Power Co. Ltd. (KOMIPO), and OQ Alternative Energy (OQAE).
(Writing by Deva Palanisamy; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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