Title :

New Power Purchase Agreement

Content :

In continuation of its earlier disclosure regarding the acceptance of the Letter of Award (“LOA”) for a new Power Purchase Agreement (“New PPA”) with Nama Power and Water Procurement Company (“PWP”), Al Suwadi Power Company SAOG (“the Company” or “ASPC”) is pleased to announce that it has signed the new Power Purchase Agreement (PPA) with PWP on 7 April 2026.

 

The New PPA will commence on 1 April 2028, immediately following the expiry of the current PPA, and will remain in effect for 15 years, until 31 March 2043.

 

Under the terms of the new PPA, the contracted capacity of the ASPC power plant will be 746.53 megawatts (MW). The New PPA ensures the continued offtake of power under mutually agreed commercial terms, strengthens the strategic partnership between ASPC and PWP, provides long-term revenue visibility, supports operational sustainability, and aligns with the Company’s long-term strategy in Oman.

 

The Company extends its appreciation to the Authority for Public Services Regulation, PWP, ASPC’s shareholders, and the Board of Directors for their continued support and collaboration.