The Public Establishment for Industrial Estates – Madayn, Mubadrah and Solar Wadi on Monday (Oct 12) signed an agreement to construct a 100MW Solar PV Farm in Sohar Industrial City.
The project would be operational by next year as part of Madayn’s overall strategy to provide a significant portion of the energy needs of its tenants from a sustainable renewable energy source, in line with Oman Vision 2040’s sustainability goals.
The agreement was signed by Eng. Musallam bin Mohammed Al Shehri, Head of Operations Sector at Madayn, Mustafa Al Lawati, Chief Executive Officer of Mubadrah; and Yazan Faouri, Chief Executive Officer of Solar Wadi,
This is part of the larger overall Madayn Renewable Energy Project initiative which is being undertaken to transform the way the electricity needs of all industrial cities and free zones under Madayn umbrella are being met.
Commenting on the agreement, Mustafa Al Lawati, CEO of Mubadrah, stated that “this agreement comes along the lines of the efforts undertaken by Madayn in moving towards more sustainable energy sources and helping to reduce the carbon footprint of the industrial sector in Oman, as set out in Vision 2040.This would usher in a new era in Oman under the guidance of His Majesty Haitham bin Tarik”.”
He added that the ultimate aim was to provide all Madayn tenants with saving on their electricity cost while attracting investments in the development of the Solar Park, and help to increase the competitiveness of all companies within Madayn industrial cities. This would help create a positive impact on their business operations and Oman’s economy as a whole.
Elaborating further he stressed “Mubadrah as the investment arm of Madayn, and in our continued efforts to support the tenants of Madayn, we are keen to invest alongside Solar Wadi the main developer for the initiative into providing sustainable solutions and services. This will allow Suhar Industrial City tenants to take unconditional advantage of the many environmental and economic benefits from such projects”.
Yazan Faouri, CEO of Solar Wadi, pointed out that: “The aim of this initiative and collaboration is to enable us to work together in our combined efforts to deliver a sustainable, ecological, more economical, and socially conscious power solution for all tenants at Suhar Industrial City from a Renewable Solar Energy source.
Faouri added that “This project represents a strategic investment for Solar Wadi, as one of the first independent Omani power companies that invests in, builds and operates Renewable Energy power plants, and is only the 1st in a number of investments planned for the Omani market which is targeted as a total investment of 300mn OMR (0.75bn USD) in developing a combined capacity of 1 GW of Solar PV Energy plants across the Sultanate”.
Madayn and its partners plan to roll out the Madayn Renewable Energy Project initiative across all industrial cities and free zones in the coming couple of years, utilizing a combination of overall Holistic Solutions which involves larger centralized Solar Plant that will cater for collective needs of all tenants within the industrial city that are connected to the regular distribution networks and direct Private-Wire Solutions for those high
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