united power company ( SAOG )

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company-profile

History

United Power Company (SAOG) (the "Company") was formed and registered as a joint stock Company on January 9th, 1995. The public currently owns 40% of the Company's shares while the founder shareholders own 60%.

The current founder shareholders are MENA Infrastructure Fund, International Finance Corporation (part of the World Bank Group), MGEC ( Oman ) Holdings Limited , and Ministry of Defence Pension Fund of Oman.

Prior to formation of the Company, the then founder shareholders were awarded, following a competitive bidding process, the concession for a project consisting of a 90 MW gas-fired power station comprising 3 open cycle gas turbines (the "Units") near Manah, to be developed on a build, own, operate and transfer (so-called "BOOT") basis, and a related network of interconnections and transmission facilities (the "ITF"), keep ("BOT") basis on land leased by the Government.

Construction of the Manah Power Station began in March 1995 and the Company began delivering electricity on May 31, 1996 upon completion of two Units and approximately 58 kilometers of overhead transmission lines to Nizwa and Bahla replacing the supply by the obsolete local diesel engine power plants.

Full supply to Dakhliya region from Manah (3rd Unit and Izki line) was achieved in early August 1996 and project completion occurred in October 1996 with the interconnection of network fed by the Manah Power Station to Muscat network at Al Rusayl. The lines owned by UPC have a total of about 170 kilometers in 132KV. Responsibility for the operation and maintenance of the ITF was transferred in stages to the Government during construction, with the final transfer occurring on October 15, 1996.

During 1999, the Company was awarded a contract for an extension of its generation facilities consisting of two 90 MW open cycle gas turbines and the necessary auxiliary facilities (GIS, fire fighting system, liquid fuel storage, etc.).

United Power Company (SAOG) (the "Company") was formed and registered as a joint stock Company on January 9 th , 1995. The public currently owns 40% of the Company's shares while the founder shareholders own 60%.

The construction and installation of the turbines were completed in May 2000, and thereafter the electricity was delivered to the grid. The official commercial operation was notified as 19 May 2000. The total capacity of the plant, therefore, reached 270 MW. Consequent to the extension of the facilities, the life of the project has been extended to 30 April 2020 taking into account the initial term of the extension project and the Company life has been extended by another five years to 9 January 2025. The Company will continue to own and operate the Manah Power Station (both Phases) and own the ITF till this date.

The Manah Power Station operates on Dispatch Orders from Oman Power and Water Procurement Company ("OPWP") and all of the net energy from the Manah Power Station is sold to OPWP, which is responsible for all power purchase in Oman.

The Project constitutes the first privately developed and owned power plant in Sultanate of Oman and the first interconnection of privately constructed transmission facilities with the country's national grid.

UPC maintains an administrative office in Muscat.