𝐎𝐦𝐚𝐧 𝐏𝐨𝐰𝐞𝐫 𝐅𝐢𝐫𝐦𝐬 𝐀𝐝𝐯𝐚𝐧𝐜𝐞 𝐌𝐞𝐫𝐠𝐞𝐫 & 𝐑𝐞𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠

Oman’s Al Suwadi Power Company and Al Batinah Power Company are advancing plans to refinance their existing debt while also moving closer to a proposed merger. Both companies submitted applications to the Authority for Public Services Regulation (APSR) on October 4 and are targeting completion of the refinancing by the end of October 2026. The proposed new financing would replace existing arrangements and support capital expenditure during the companies’ new Power Purchase Agreement period. Both firms have also obtained a no-objection from new lenders for the proposed merger, subject to agreed conditions and documentation, but APSR approval for the merger is still pending. The companies operate the 750MW Barka III and 750MW Sohar II independent power plants and have new 15-year PPAs with Nama Power and Water Procurement Company running from 2028 to 2043