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FINANCIAL NEWS
UAE’s Masdar to build USD125m wind farm in Oman
23 Oct 2014
(MENAFN) Masdar, the Abu Dhabi energy company, announced it is planning to build a 50-megawatt wind farm in Oman, which will help the sultanate with providing 16.000 homes with clean energy, Arab News reported.
The project, which is estimated to cost around USD125-million, will be the first large-scale wind farm in the GCC nations and will be constructed in Dhofar, which is in the southwestern region of Oman.
The joint agreement to build to wind farm was signed by Masdar and Oman’s Rural Areas Electricity Company, which is expected mitigate 110.000 tons of carbon dioxide yearly.
Masdar, which is overseeing Abu Dhabi’s plans to generate 7 percent of its energy needs from renewable sources by 2020, announced last month it was partnering with Norwegian firms Statoil and Statkraft to build a multi-billion dollar offshore wind farm in Britain, big enough to power 410,000 homes, as well as already having a 20 percent stake in the 630-megawatt London Array project, which is the largest offshore wind farm in the world.
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