RIYADH: A consortium led by Saudi Arabia"s ACWA Power inaugurated Ibri 2, the first solar independent power project under Oman’s national renewable energy programme and connected to the main national grid. The consortium, consisting of ACWA Power, Gulf Investment Corporation, and Alternative Energy Projects Co., will produce renewable energy over a 15-year period for the Oman Power and Water Procurement Co, according to a statement by the Saudi developer. The project was developed on a build, own, operate basis, with an investment of $417 million, making it Oman’s largest utility-scale renewable energy project. It will utilize solar photovoltaic technology to generate 500 MW of renewable power. Construction was completed in 13 months only "despite disruptions to the supply chain as a result of the pandemic," ACWA Power said. The project is supporting Oman 2040 Vision, which targets 20 percent of renewable energy production by 2030 and up to 39 percent by 2040.