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FINANCIAL NEWS
Oman intends to sign a lease for the wind power project
07 Aug 2016
According to the latest reports, Oman’s lease to create the Sultanate’s first large-scale wind-based renewable power project will be signed during the coming month.
Rural Areas Electricity Company (Raeco) and the UAE-based Masdarare are the companies which developed the renewable energy project.
Raeco will run the venture within a power purchase deal with Oman Power and Water Procurement Company (OPWP).
The plan is expected to achieve its goal in 2017, “The project will be operated by Raeco under a power purchase agreement with Oman Power and Water Procurement Company (OPWP).
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