Extra time for Manah I & II bidders


Oman Power and Water Procurement Company (OPWP) has extended the request for proposal (RFP) deadlines for its 1GW Manah I and II solar independent power producer (IPP) projects.

Bids are now due towards close to the end of July (2021).

The Omani utility had recently (17 May 2021) also updated its indicative schedules for the 2 projects – which are expected to be awarded to separate consortia.

The projects are:

  • 500MW Manah I solar IPP
  • 500MW Manah II solar IPP

A source close to the tender previously told IJGlobal in December 2020 that at least 3 bids are expected to be submitted, but instead OPWP has given yet more time for the full list of 9 prequalified consortia.

The 3 frontrunners are thought to be:

  • ACWA Power, Total Solar
  • Jinko Power
  • Masdar, EDF

The Manah I and II solar IPPs are expected to begin commercial operations on Q4 2023 and Q1 2024 respectively.

OPWP is being advised on the tender by:

  • Synergy Consulting – financial
  • DLA Piper – legal
  • Fichtner – technical

Snapshots

Asset Snapshot

Manah I Solar PV Plant (500MW)


Value:
USD 460.00m
Full Details
Asset Snapshot

Manah II Solar PV Plant (500MW)


Value:
N/A
Full Details
Transaction Snapshot

Manah I Solar PV Plant (500MW) IPP


Financial Close:
20/12/2023
SPV:
Wadi Noor Solar Power Company SAOC
Value:
$438.90m USD
Equity:
$94.30m
Debt:
$344.60m
Debt/Equity Ratio:
79:21
Full Details