The Ibri-2 Solar Power Project, set up with an investment of around RO 155 million, will be inaugurated tomorrow, January 24, 2022, at a ceremony to be presided over by Sayyid Hamoud bin Faisal al Busaidy, Minister of Interior. The product of a PublicPrivate-Partnership (PPP), the 500 MW solar project is a further testament of the Sultanate of Oman's ability to attract foreign direct investment. The partnership of ACWA Power of Saudi Arabia, Gulf Investment Corporation and the Alternative Energy Projects Company (AEPC) has developed the project on a Build-OwnOperate basis in the Wilayat of Ibri in Al Dhahirah Governorate. Electricity output from the plant is committed to Oman Power and Water Procurement Company (OPWP) - part of Nama Group, under a long-term supply agreement. At full capacity, the Ibri-2 Solar Project will generate enough power to meet the requirements of nearly 50,000 homes. As a clean energy project, it will also annually reduce 340,000 tonnes of CO2 emissions that would otherwise be produced by a comparable natural gas based power plant. In addition to generation carbon-free electricity for supply into the main electricity grid, the new project will contribute to socio-economic development in the governorate. During the construction phase, a number of local firms benefited from contracts procured through the project's In-Country Value (ICV) development programme. Several local start-ups are also supporting the venture during the operations phase. Eng Yaqoub bin Said al Kiyumi, CEO - OPWP, said the project has been developed in line with strategic national objectives set out in Oman Vision 2040, particularly with regard to energy and environmental conservation, optimal utilisation of natural resources, local development and private sector engagement. Ibri-2 Solar Power Project will also pave the way for the launch of other similar projects in the field of renewable energy, he said, noting that OWP is currently developing two solar power plants in Al Dakhiliyah Governorate with a total capacity of 1,000 MW, in addition towind power projects in South Al Sharqiyah and Al Wusta governorates.