Work on $94m solar project to begin in Oman
A large solar panel project in Oman's Duqm special economic zone will begin by the end of 2017
A large solar panel project in Oman's Duqm special economic zone will begin by the end of 2017.The $94m project, which will generate around 1,000MW energy per annum, is being jointly promoted by China-based Ningxia Zhongke Jiaye New Energy and Technology Management Co. and the Oman Investment Fund.Ali Shah, chairman of Oman Wanfang, said: “The project will be ready by the end of 2019.”Shah added: “The promoters of the solar panel project have already completed their feasibility study. They are now negotiating with some of the customers in the region for getting firm orders.”
According to Times of Oman, Ningxia Zhongke will have a 51% stake in the solar panel venture, while the remaining 49% ownership will be held by the Oman Investment Fund.
Ningxia Zhongke Jiaye New Energy stated that it anticipates $215m in sales revenue per annum in the first phase.
The Chinese firm, which signed a land lease agreement with Oman Wanfang, plans to export its products to overseas markets.