$2bn in solar energy investments to come to Oman
Terra Nex Financial Engineering AG Switzerland (Terra Nex), in collaboration with Middle East Best Select (MEBS) Group of Funds, has announced its plans for a major $2bn project to develop solar power resources within the Sultanate of Oman.
Terra Nex, a Swiss licensed and global wealth management company that is specialized in identifying and developing investment opportunities in the Middle East, has developed an integrated solar energy project consisting of the local implementation of the entire value chain in the renewable energy sector.
Solar power electricity generation stations are central to the project. The project aims to generate approximately 400MW. Industrial plants to manufacture the solar panels and aluminum frames to be used by the power station will also be established for local consumption and export.
Knowledge and technology transfer is another critical aspect to the success of this project. The project aims to tie up with major international technology companies and international universities with expertise in renewable energy education, to help train the local population in service this bourgeoning industry.