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FINANCIAL NEWS
Oman to build first USD200m wind energy power plant
13 Oct 2014
(MENAFN) Oman’s Rural Areas Electricity Company (RAECO) announced it is planning the country’s first USD200 million wind energy power plant project, which is expected to start functioning in Salalah in May 2017, Times of Oman reported.
The project, which will be funded by Abu Dhabi Future Energy Company (Masdar), will help support the government’s efforts to reduce dependence on fossil fuels and slash energy subsidies by implementing the 50mw project in Harweel, which will be the first of its kind in the Sultanate and the Gulf Cooperation Council (GCC).
Masdar is set to serve as the supervisor and the main manger of the project, though RAECO will approve and employ the contractors and operators, as well as fully run the facility within a three years period after its delivery.
The project is expected to have a significant contribution in the reduction of the usage of traditional fuel in plants producing electrical energy, which will benefit the country’s economy because fuel will be then used in other industries as well as reducing costs since wind power plants do not need a lot of energy, effort or money for operating.
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