Qatar-based Nebras Power plans to acquire Qatar Electricity and Water Company’s (QEWC) stake in Phoenix Power Company, which owns and operates one of the largest Independent Power Projects (IPPs) in Oman.

The acquisition, expected to be completed this month, covers OEWC’s 9.75 per cent stake in Phoenix Power and a 15 per cent stake in Phoenix Operating and Maintenance Company, reported Oman Observer.

Sur IPP, with an installed capacity of 2000 MW, represents about 28 per cent of the total installed capacity for electrical connection system in Oman, the report added.