Qatari energy company Nebras Energy has strengthened its footprint in Oman’s power sector by acquiring significant stakes in two major gas-fired power projects awarded by Omani authorities over the weekend.
Doha-headquartered Nebras Energy, recently rebranded from Qatar Electricity & Water Company (QEWC), has secured a 49 per cent stake in the 1,700 MW Misfah Power Project in Muscat Governorate and a 30 per cent stake in the 877 MW Duqm Power Project in Al Wusta Governorate. Both projects were awarded by Nama Power and Water Procurement Company, Oman’s single buyer of electricity and water, and are based on combined-cycle gas turbine (CCGT) technology. Notably, they will be designed to be hydrogen-ready, marking a first for Oman’s power sector. Total investment across the two projects is estimated at around RO 1 billion.
In the Misfah consortium, partners include Emirates Water and Electricity Company (44 per cent) and Bahwan Infrastructure Group (7 per cent). The Duqm project consortium comprises Emirates Water and Electricity Company (30 per cent), Korea’s Western Power Company (35 per cent), and Bahwan Infrastructure Services (5 per cent), alongside Nebras Energy.
The acquisitions significantly expand Nebras Energy’s investment portfolio in Oman. Through its international arm, Nebras Power, the company also holds stakes in the Project Amin solar plant and Phoenix Power’s Sur IPP.
Established in 1990, Nebras Energy manages over 10.6 GW of generation capacity globally, with assets spanning the Middle East, Asia, Africa, and Latin America.
