Synergy Consulting, Inc. is honored and delighted to receive the “Renewable Energy Deal of the Year” award at the IJ Global Awards for the “Manah 1 Solar PV Plant IPP, Oman”

by | May 6, 2024 | News

Synergy Consulting, Inc. is honored and delighted to receive the “Renewable Energy Deal of the Year” Award at the IJ Global Awards for the “Manah I Solar PV Plant IPP, Oman”.

The award ceremony took place in Dubai on April 24, 2024.

Synergy Consulting, Inc. acted as the Lead and Financial Advisor to the Oman Power and Water Procurement Company for the procurement of 2*500 MW Manah Solar I and Manah Solar II IPPs in Ad Dakhiliyah Governorate in Oman.

This Project is the Largest Solar Power tender in Oman with a capacity of 2*500 MW Solar PV consisting of two Solar PV IPPs tendered together and awarded to two separate Bidding Entities.

This is also the first Project under the new Tendering Policy approved as Nama Group’s internal tender regulations which replaced the Tender Law issued by Sultani Decree 36/2008.

Considering the size of the Project, there were significant challenges in selecting the appropriate site from an environmental, hydrological, and topographical point of view.

The two power plants together have the capacity of more than 1 Million tonnes of CO2 emission reductions and supply electricity to more than 120,000 houses in Oman.

The Project is also a benchmark in terms of promoting local Omani talent, with the Project’s target of recruiting more than 40% Omanis.

Also, the Project’s target is to achieve a minimum of 20% Omani Content (including Omani SME Content).

Synergy was responsible for providing advice in relation to all financial and commercial matters, and as the Lead Advisor, Synergy was also responsible for overseeing and managing the delivery of the entire advisory scope of work in a timely manner.

Synergy is committed to supporting clients in conceptualizing and further developing such strategically important Projects across and outside the MENA region.

Synergy actively supports the ambition of countries in the MENA region to develop renewable energy.

We work with all our clients on the shared goal of Environmental and Social Governance (ESG).

Synergy is thankful to IJGlobal and expresses gratitude for this prestigious recognition and award.

Synergy thanks all stakeholders, including our clients and financial and private participants, for their continued support and trust for making Synergy the Partner of Choice.

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