EDF Power Solutions and Partners Celebrate Financial Close on Major Wind Project in Oman

Major Wind Project Reaches Financial Close in Oman

In a significant achievement for renewable energy in the Middle East, a consortium consisting of EDF Power Solutions, Al Khadra Partners, and OQ Alternative Energy (OQAE) has successfully reached financial close on the 120-megawatt Jaalan Bani Bu Ali (JBB) Wind Independent Power Project located in Oman. This marks a pivotal step towards developing one of the country's largest onshore wind farms, pivotal for Oman's transition towards sustainable energy solutions.

Set to commence commercial operations by the third quarter of 2027, the JBB project follows a 20-year Power Purchase Agreement (PPA) with Nama Power and Water Procurement Company (Nama PWP). Situated in the South Al Sharqiyah Governorate, roughly 440 kilometers from the Port of Duqm, the project will utilize 16 wind turbines—each capable of generating 7.7 MW. Once operational, it will provide renewable electricity to over 13,500 households in Oman and will aid in mitigating more than 270,000 tons of CO₂ emissions annually.

This landmark project aligns with Oman Vision 2040 and its goal of increasing renewable energy's contribution to the national electricity mix to at least 30% by 2030, while also bolstering the nation's ambitions for achieving net-zero emissions by 2050.

Luc Koechlin, CEO for the Middle East at EDF Power Solutions, expressed pride in achieving this financial milestone. Koechlin stated, "This accomplishment not only reflects the confidence lenders have in the project but also in Oman's potential as a hub for renewable energy. The JBB Wind Project signifies our first venture into wind energy in Oman and reinforces our dedication to supporting the country's energy transition through competitively priced and low-carbon energy solutions."

Sheikha Hind Bahwan, Chairperson of Al Khadra Partners, also underscored the significance of this achievement. "The success we’ve seen with the financial close of the JBB Wind Project emphasizes our enduring partnership and shared commitment towards revolutionizing Oman's clean energy landscape. As part of the Hind Bahwan Group, we are engaged in developing over 3 GW of power projects throughout the Sultanate. We are excited to collaborate with EDF and OQAE to bring forth this vital renewable energy initiative, aiming to create lasting economic and environmental benefits for Oman and its people."

Salim Said Al Kamyani, CEO of OQAE, voiced similar sentiments, celebrating the financial closing as a landmark event that highlights Oman's progress in translating renewable energy intentions into actionable projects. He noted, "The JBB Wind Project signifies more than just 120 MW of new renewable capacity; it symbolizes a crucial step in the transformation of the Sultanate's energy framework while ensuring economic resilience. OQAE is dedicated to utilizing Oman’s abundant renewable resources to elevate energy security and promote a diversified energy portfolio that nurtures sustainable economic growth. Furthermore, this project creates opportunities for developing local capabilities and enhancing Omani supply chains, generating substantial in-country value."

The development of the JBB Wind Project not only enhances Oman's renewable energy capabilities but also underscores the importance of collaborative efforts in achieving energy security and sustainable development. As global priorities shift towards reducing carbon footprints, Oman's commitment to renewable energy serves as a model for other nations pursuing similar paths. The successful implementation and impact of such projects will ripple through the community, fostering economic prosperity and a more sustainable future.

As EDF Power Solutions continues its journey towards a greener planet, it remains steadfast in its mission to promote innovative energy solutions that address climate change while benefiting local communities. The JBB Wind Project stands as a testament to the power of synergy among entities committed to sustainable development.

For more information about the JBB Wind Project and the parties involved, visit EDF Power Solutions and Al Khadra Partners.