Ibri-2 Independent Power Producer (IPP) will be Oman’s largest utility-scale solar PV Independent Power Project. The project, to be developed on a BOO (build, own, operate) basis, will utilize solar PV technology to generate 500MWac of renewable power. At peak generation capacity, the plant output will be enough to supply an estimated 33,000 homes with electricity and will offset 340,000 tonnes of carbon dioxide emissions a year. Located around 300km west of Muscat, Ibri-2 IPP will contribute towards increasing power supplies in the Sultanate. Ibri-2 IPP was won by a consortium composed of ACWA Power, Gulf Investment Corporation (GIC), and Alternative Energy Projects Co. (AEPC) in agreement with the Oman Power and Water Procurement Company (“OPWP”). ACWA Power is the lead investor in the project with a 50 per cent stake, whereas GIC will have a 40 per cent stake and AEPC will control the remaining 10 per cent.