A Landmark Independent Power Plant
The IBRI II PV project is an Independent Power Project (IPP) to be developed on a BOO (build, own, operate) basis. The $400 million project was funded on a debt to equity ratio of 70:30 and a consortium consisting of ACWA Power, Gulf Investment Corporation (GIC) and the Alternative Energy Projects Company (AEPC) has achieved the financial closure of it recently.
The project is expected to come online in the summer of 2021, barring aside any potential COVID-19 related considerations. It will supply clean power to state-owned utility Oman Power and Water Procurement Company (OPWP) under a 15-year contract. The plant can generate roughly 1,300 GWh annually, which is enough to power an estimated 33,000 homes and offset 340,000 tonnes of carbon dioxide emissions per year.
SG250HX Paves the Way to Lower LCOE
The project is located in a desert around 300 km west of Muscat with ample sunshine and abundant flat land. The system poses strict requirements on a minimized LCOE with cutting-edge PV technologies and the resilience to harsh conditions like high temperature and sand corrosion.
Sungrow's SG250HX, the world's most powerful 1500V string inverter, to be installed onsite is an ideal match to the project. The solution features 12 MPPTs with maximum efficiency of 99% and enables flexible block design allowing for up to 6.75 MW blocks. Compatible with bi-facial modules and tracking systems, the solution can significantly maximize ROI for a PV project.
The improved Power Line Communication (PLC) will decrease installation cost without excessive communication wiring. Equipped with 24-hour Static Var Generator (SVG) function, the solution can provide an instantaneous and effective response to power quality problems, enabling improved power system stability, reduced energy losses and complying with most demanding local power quality standards and grid codes, saving approximately $1,143,000.
Particularly with IP66 and C5 protection together with the smart forced air-cooling technology, the 250 kW inverter can operate without derating even the ambient temperature is up to 50 degree Celsius, strongly resilient to scorching deserts of Oman.
Tap More Potential in MENA
"As a leading developer, owner, and operator of power generation and water desalination plants, ACWA Power has considerable experience in deploying PV Independent Power Plants worldwide. The Oman IBRI II Solar PV is expected to play a strategic role in building Oman's renewable production capacity. We are delighted to partner with best-in-class entities such as Sungrow, that will support us in delivering long-term sustainable benefits for all our stakeholders through providing advanced, tailor-made solutions such as the SG250HX to our customers," commented Rajit Nanda, Chief Investment Officer from ACWA Power.
"Sungrow and the SG250HX complement our ongoing mandate to provide low-cost power to communities through utilizing the latest, most cost-efficient technologies and we look forward to working on this venture with them," he added.
"The 1500V 250 kW string inverter has been attracting around 3 GW orders since it was first rolled out in Intersolar Europe 2019. We're glad to decarbonize the local economy by bringing in more flagship products," said James Wu, Vice President of Sungrow.
"It's another fabulous milestone we did in Oman, even in Gulf Cooperation Council. It once again demonstrates that growing number of customers are impressed by Sungrow competitive products and services," he added. Wu also mentioned, Sungrow supplied a 105 MW project in Oman which will be put into commercial operation soon.
As one of the most energetic PV and BESS players in the Middle East and North Africa (MENA), Sungrow has the regional hub established in Dubai. In addition to remaining a remarkable market share in Omani PV market, Sungrow expands its footprints in other key markets in MENA as well. With the 500 MWac project added to its portfolio, the Company is expected to hit 1 GW in this region.
Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.
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