Petroleum Development Oman releases 100 MW solar tender

Oil and gas production company Petroleum Development Oman (PDO) has tendered 100 MW of solar capacity for development in Amin. The project will be built on a build-own-operate-transfer basis, and will be structured in line with Oman’s independent power producer (IPP) model. The eligibility conditions require bidders to have a minimum tangible net worth of $50 million and to have completed at least two large-scale solar IPP projects with an aggregate capacity of 100 MW. PDO will enter into a 23-year power purchase agreement (PPA) with the successful bidder and will award the project construction contract by June 2018. In addition, the project will be privately financed through a combination of sponsor and third-party equity, as well as non-/limited recourse debt.