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Paris, Ile de France, France, 2014/03/26 - GDF SUEZ inaugurated two power plants in the Sultanate of Oman this week. The Sohar 2 and Barka 3 power plants, which represent a combined investment of USD1.7 billion and total installed capacity of 1,488 MW - GDFSUEZ.com. FR0010 208488
These two projects were tendered by the Government of Oman in 2009 to meet the country’s growing power needs. A consortium led by GDF SUEZ was awarded both projects in 2010 and three years later, Barka 3 and Sohar 2 started commercial operation on schedule, adding significant capacity to the Sultanate’s Main Interconnected System (MIS). The Group’s partners in the consortium were Suhail Bahwan Group, the Public Authority for Social Insurance (PASI) of Oman, Sojitz Corporation and Shikoku Electric Power Co., Inc. of Japan.
Willem Van Twembeke, CEO of GDF SUEZ Energy International, who attended the inauguration ceremonies, said: “Over the last 20 years, GDF SUEZ has been a reliable, efficient and long-term supplier of power and water to the people of Oman. In partnership with the Government of Oman, we remain committed to meeting the growing future energy and water needs of the Country.”
Sohar 2 and Barka 3 are coastal, gas-fired combined cycle gas turbines (CCGT) plants with a capacity of 744 MW each. With state-of-the-art technology, they are the most energy efficient large-scale power plants in Oman.
The Oman Power and Water Procurement Company (OPWP) is the single off-taker for both project companies under two separate 15-year power purchase contracts. According to OPWP, peak demand for electricity in the MIS is expected to grow at an average rate of 9.5% per annum driven by population growth, general economic development and infrastructure expansion.
In May 2014, 35% of the shares in Sohar 2 (Al Batinah Power) and Barka 3 (Al Suwadi Power) will be offered to the public in accordance with the Project Founders Agreement that requires the shareholders to offer 35% of the shares to the public within four years from incorporation of the company.
GDF SUEZ in Oman and in the Middle East
GDF SUEZ has direct and indirect ownership interest in six (3,693 MW) of the eleven projects contracted by OPWP in the MIS, which has a total installed capacity of 5,589 MW and covers the majority of Oman, serving approximately 600,000 electricity customers.
GDF SUEZ entered the Middle East region in 1994 with the development of the first independent power producer in the Gulf, the Al Manah project in Oman. Today, GDF SUEZ has equity interests in 27,000 MW of power capacity and almost 5.3 million m³/day of desalination capacity in operation and under construction in the Gulf Countries. GDF SUEZ is the leading independent power and desalinated water producer in the region and is also present in energy services through joint ventures.
About GDF SUEZ
GDF SUEZ (gdfsuez.com) develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: independent power production, liquefied natural gas, renewable energy and energy efficiency services.GDF SUEZ employs 147,200 people worldwide and achieved revenues of €81,3 billion in 2013. The Group is listed on the Paris, Brussels and Luxembourg stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).
Investor Relations contact:
T: +33(0)1 44 22 66 29 - E: ir[.]gdfsuez.com.