A consortium led by ACWA Power has inaugurated the 500 MW Ibri 2 solar independent power project in Oman in partnership with the Oman Power and Water Procurement Company (OPWP). Ibri 2 is located in Ad-Dhahirah Governorate and was built with a $417 million investment on a build-own-operate basis. ACWA Power is the project’s principal investor, with a 50 per cent share.
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United Arab Emirates’ (UAE) power production has long been driven by hydrocarbons. However, in recent years, the country has been focusing on clean power in a bid to cater to its ever-growing power demand and to save costs associated with it. These goals are clearly reflected in the UAE’s Energy Plan for 2050, which was announced in 2017. The Energy Plan envisages the production of 44 per cent of power from renewables, 6 per cent from nuclear, 12 per cent from clean coal and the rest from natural gas by 2050.
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When we started ICE, we were very focused on having inexpensive wind and solar power facilities mostly located in deserts next to the ocean. As a result, locations with high solar irradiation and wind speeds were chosen. These include regions in North Africa, South America, Australia, and the Middle East. This would ensure that the projects in these regions would have the highest capacity utilisation factors as well as the lowest cost of energy.
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Morocco’s non-hydroelectric renewables capacity will grow by 4.4GW over the next decade, supported by the government’s power mix diversification efforts and favourable wind and solar conditions. Progress in the sector will be driven further by factors such as hydrogen adoption, international financing and the development of interconnections with the EU.
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Renewable energy usage has been growing significantly over the past 12 months. This trend will continue to increase as solar power prices reach grid parity. Within the Middle East and North Africa (MENA) region, the increased industrial activity and drive towards renewables is reflected in each country’s strategy.
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