Nebras enters deal with QEWC to buy stake in Phoenix Power Company

Posted on 7th January 2016

Qatari energy company Nebras Power has entered into a deal with Qatar Electricity and Water Company (QEWC) to buy a key stake in Phoenix Power Company, which owns and operates one of the largest independent power projects (IPPs) in Oman.

The acquisition, expected to be completed this month, covers QEWC’s 9.75 per cent stake in Phoenix Power and a 15 per cent stake in Phoenix Operating and Maintenance Company, reported Oman Observer, according to Tradearabia news report.

The Sur IPP, with an installed capacity of 2,000 MW, represents about 28 per cent of the total installed capacity for electrical connection system in Oman, the report added.

Back to all Construction News

Share this story: