EDF Power Solutions and the Sultanate of Oman have signed three agreements to advance energy cooperation and sustainable development. The agreement include the 2 GW Jabal Abyad Pumped Hydro Energy Storage (PHES) Project, to be developed in partnership with EDF power solutions, Oman National Engineering and Investment Co (ONEIC), TAKHZEEN Oman and Green Universe Enterprise (GUE) alongside Oman’s Authority for Public Services Regulation (APSR).
The agreement also includes the 500 MW Al Kamil Solar PV Independent Power Project (IPP) which will be financed, built and operated by a consortium comprising EDF power solutions, ONEIC and OQ Alternative Energy (OQAE) alongside Oman Power and Water Procurement Company. The parties also signed a memorandum of understanding to develop a 1 GW sustainable digital infrastructure platform supporting AI, cloud computing, and advanced data services.
In January 2026, Masdar, together with Al Khadra Partners, Korea Midland Power Co. Ltd, and OQ Alternative Energy, achieved financial close for the Ibri III solar independent power project. Financing has been secured from Natixis Corporate and Investment Banking and First Abu Dhabi Bank, covering a substantial portion of the project’s total cost of around $300 million. The project is being developed for Nama Power and Water Procurement.
