Nama Power and Water Procurement Company of Oman Signs Framework Agreement with State Grid Corporation of China for 1 GW Energy Storage Project

en.Wedoany.com Reported - On November 2, Nama Holding Company, under the Oman Investment Authority, and State Grid International Development Co., Ltd. of China signed a framework cooperation agreement on battery energy storage projects in Beijing, planning to develop energy storage systems with a total capacity of 1,000 MW in Duqm and Ibri, Oman. The planned value of the projects is approximately OMR 384.5 million (approximately USD 1 billion). The scope of cooperation covers the assessment and development of two energy storage facilities, and the projects are currently at the framework agreement stage.

According to the agreement, the two energy storage facilities are located at the Duqm Industrial Station and the Ibri Solar Phase III site, each with a planned capacity of 500 MW. Both systems are planned to be connected to Oman's national transmission grid at a voltage level of 400 kV, undertaking tasks such as power system regulation, enhancing grid operational stability, and supporting the integration of renewable energy.

The signing is one of 23 investment and cooperation documents reached by the Oman Investment Authority during the visit of Sultan Haitham bin Tariq of Oman to China. The relevant agreements were signed during the Oman-China Investment Cooperation Forum, covering cooperation areas including renewable energy, mining, logistics, digital transformation, and aerospace technology. The Oman Investment Authority listed the planned value of the energy storage cooperation projects at approximately USD 1 billion.

The cooperation between the two parties focuses on the assessment and development of energy storage projects. The project implementation scope includes two grid-scale battery energy storage facilities and corresponding transmission grid connection arrangements. Nama Holding Company and State Grid International Development Co., Ltd. will advance subsequent project development work for the two sites in Duqm and Ibri.