A group of investors from Germany have entered partnership to set up a large-scale solar power park in Oman.
According to media reports, as many as 8 companies from Germany have announced plans to set up 1 GW solar power park. The project will be implemented at Duqm, eastern Oman. Various companies in the partnership will provide different services like finance and technological assistance for the project.
The Scholl Wais Beteiligungsgesellschaft mbH Investment Trust will be the main promoter of the implementing entity and shall arrange for funding for the project. Grune Planet Energie Ineternazional will act as the local project developer.
The participating companies are expected to submit proposal to the Oman government over the next few weeks. Once the government approves the proposal the project is expected to be commissioned within 5 years.
Implementation of the project will not only generate local employment but the government shall also send Omani youth to Germany to receive training in the solar power technology.
Oman’s Rural Areas Electricity Company (Raeco) plans to increase the share of renewable energy to 25% of the total power generated within the next 5 years.