EDF Renewables and KOWEPO secure financing for Oman’s 500 MW solar plant, Manah 1. A 20-year PPA with Oman Power and Water Procurement Company is signed, targeting commercial operation in Q1 2025. The project supports Oman’s Net-Zero goals, aiming for 35-39% renewable generation by 2040. Global financial institutions and a French-Korean partnership facilitate project financing through equity and loans. The installation, featuring bifacial HP and single-axis trackers, will power 50,000 households and reduce 700,000 metric tons of CO2 annually.
EDF and KOWEPO secure funding for 500 MW Oman solar project
The financial close of the project was achieved on December 25, 2023, following the signing of financing agreements during COP28. Image Credit EDF Renewables.
Scatec has secured EUR 25 million from IFU, alongside equity and non-recourse debt, for its USD 85 million project financing. (Image Source: Scatec ASA)
EliTe Solar launched its 5 GW PV project in Egypt’s TEDA Suez Zone, set to begin production by September 2025. (Image Source: PRNewswire)
Part of SECI’s 2 GW ISTS initiative, the project will deliver four hours of peak power daily for 25 years. (Image Credit/Source: Pixabay/Pexels)
Ethical Power Italia’s first EPC projects in Italy, two solar farms for Encavis AG, will generate 28 GWh annually. (Image Credit/Source: TomFisk/Pexels)