Sembcorp, Jinko bag 500MW solar project in Oman
The project is expected to operate by 2025.
The joint venture between Sembcorp Utilities, a subsidiary of Sembcorp Industries, and Jinko Power Technologies is mandated to build, own and operate a 500-megawatt (MW) solar power plant in Oman.
In a statement, Sembcorp said the Manah Solar II Independent Power Project, the company’s first greenfield renewables project in the Middle East, is expected to start operations by 2025.
It will have a 20-year power purchase agreement with the Oman Power and Water Procurement Company (OPWP), the company that awarded the project.
Sembcorp, which owns 80% of the joint venture, said the project will be financed through internal cash resources and external bank borrowings.