Qatari firm acquires 9.9 per cent stake in Amin solar PV project
1374202 SHARE
Qatar-based energy investments firm Nebras Power QPSC has announced that it has completed the acquisition of a 9.9 per cent equity stake in Amin Renewable Energy Company (AREC) in Oman, which is the owner of Project Amin.
The transaction is a continuation of Nebras’s strategy implementation to enhance its asset base through attractive PPA opportunities and expands its presence in the Omani power market.
Project Amin is currently under construction and it is targeted to achieve its early generation in late December 2019. Once the project is fully operational in May 2020, the facility will have a power generational capacity of up to 105 MWac and will sell the generated power to Petroleum Development Oman LLC through a 23 years Power Purchase Agreement.