PwC appointed as financial advisors for Oman power project
Firm will assist in the implementation of an Independent Power Project in Salalah
PricewaterhouseCoopers, the global professional services firm, has won a contract to provide financial advisory services to Oman Power and Water Procurement (OPWP), it was announced earlier this week.
The win will see the firm assist in the implementation of a new Independent Power Project which is being planned in Salalah, according to a report in the Oman Daily Observer.
Furthermore, the state owned power and water offtaker also appointed Fichtner, the international engineering and consultancy services firm, as the technical advisor for the project. DLA Piper, the multinational law firm, was awarded the Legal Advisory Services Contract.
The three firms will advise OPWP on an ‘international competitive process’ which would lead to the development of the second privately funded power project in the Dhofar Governorate, the newspaper said.
This deal follows the recent commissioning of the governorate’s first Independent Power Project, which was set up in Taqah, near Salalah, with an investment of around $1bn.
Raysut, with its transhipment and logistics hub, as well as an expanding free zone and industrial estate, was chosen as the site for the establishment of the new power plant.
At present the gas fired project is currently envisioned as a power-only scheme, with a generation capacity between 200-400MW. However, a review is still ongoing on the potential for a water component to be added, OPWP said.
Electricity demand in Salalah is expected to soar over the coming years, with massive investment in infrastructure, tourism and leisure schemes, shopping malls, commercial centres and general real estate investment taking place.
