Masdar, renewable Energy Company from Abu Dhabi has entered into a deal with Oman’s Rural Areas Electricity Company (Raeco) for a US$125 million wind farm, reports The National Business.
The Oman project will consist of 25 wind turbines and commercial operation is expected to begin at the end of next year. The farm will provide electricity to 16,000 homes.
On completion, the farm will meet half of the Dhofar region’s energy needs during the winter. It will also reduce country’s reliance on traditional forms of energy, such as gas, which can be redirected toward more valuable industrial uses, while also extending the life of our hydrocarbon reserves, noted, Hamed Al Magdheri, CEO, Raeco.
The region is rapidly adopting renewable energy as a viable solution to meet growing electricity demands and to address long-term resource security, stated, Sultan bin Ahmed Sultan Al Jaber, state minister, chairman, Masdar.
The United Arab Emirates is a first mover and the country is extending its global energy leadership through the deployment of wind and solar power domestically and internationally, said the Minister.
This is the first large-scale wind project in the six-country GCC region, formulated as part of a strategic initiative to improve renewable energy production and to lower carbon dioxide emission.
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Over the next five years, regional investment in solar, wind and nuclear energy is expected to reach $100 billion.
Masdar owns a share in London Array, the world’s largest wind project. However, second phase expansion of this project was cancelled earlier this year due to concerns about birds running into the wind turbines.
Last month, Masdar bought into the consortium for the completion of 402 MW Dudgeon Wind Farm project in UK, paying £500 million pounds. In addition, it is developing a 117 MW Tafila onshore wind farm in Jordan.