Seobu Power Completes First 'Solar Power Project' in Oman... "Proving Korean Technology Competitiveness"

500 MW Solar Power Plant... Total Project Cost of 600 Billion KRW
Oman Power and Water Procurement Company Guarantees Power Purchase for 20 Years

Korea Western Power has successfully completed a large-scale solar power project in Oman, the first of its kind won by a Korean company.

On the 20th (local time), Western Power announced that it held a completion ceremony for a 500 MW solar power plant in Mana, Oman.

A 500MW solar power plant completed by Korea Western Power in Mana, Oman. (Photo by Western Power)

The Mana Solar Power Plant was constructed about 170 km southwest of Muscat, the capital of Oman, covering an area approximately 2.6 times the size of Yeouido, with an installed capacity of 500 MW. This is the first large-scale solar power project won by a Korean company in Oman, with a total project cost of about 600 billion KRW. Western Power is also responsible for the operation and maintenance (O&M) of the Mana Solar Power Plant in Oman. The electricity produced over the next 20 years is guaranteed to be purchased by the client, Oman Power and Water Procurement Company.

A Western Power official stated, "The Oman Mana Solar Power Plant project was internationally recognized, winning the 'Project of the Year in Renewable Energy for the Middle East and North Africa region' at the 'IJ Global Awards 2023' held in the United Arab Emirates (UAE) last April. Following the Oman Mana project, Western Power has also secured the 1.5 GW Azban solar power project in the UAE, expanding its presence in the Middle East renewable energy market."

The role of national policy banks was also significant in the success of this project. The Export-Import Bank of Korea supported Western Power's bid by issuing a letter of credit of intent at the early stage of bidding and provided full financial support for the project’s progress. Western Power explained that cooperation with financial institutions was an important foundation for demonstrating competitiveness in the overseas renewable energy market.

Lee Jung-bok, President of Western Power (center), is taking a commemorative photo with officials at the completion ceremony of the 500MW solar power plant in Mana, Oman, on the 20th (local time).

Lee Jung-bok, President of Western Power, said, "The completion of the Oman Mana solar power project is a meaningful achievement that proves South Korea’s outstanding technology and competitiveness. We will actively seek new business opportunities in the Middle East market for eco-friendly and carbon-free management." He added, "By utilizing favorable market conditions for project operators, such as long-term power purchase agreements (PPA) with verified clients and guaranteed purchase volumes despite transmission and distribution constraints, we will make the Middle East a forward base for Western Power’s eco-friendly power generation business."

This content was produced with the assistance of AI translation services.