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 original duration of the Company was for a period of twenty-five years commencing from 9 January 1995 being the date of its registration in the Commercial Register of the Ministry of Commerce and Industry (‘MOCI’). At an Extra-ordinary General Meeting held on 17 January 2000, the duration of the Company was increased by five years thereby revising the duration of the Company to thirty years commencing from 9 January 1995. The MOCI approved the extension to the Company’s life on 11 October 2000.

 

All the property, plant and equipment of the Company is to be transferred at RO 1 to the Government automatically at the end of the Project Life, which, in accordance with Supplemental Agreements for the Expansion Project, expires on 30 April 2020. (At the end of the Project Life, the value of the shares of the Company will become nil.)

 

The founder shareholders were Tractebel S.A., International Finance Corporation (part of the World Bank Group), National Trading Company LLC, W.J. Towell & Co. LLC, The Zubair Corporation LLC, and Tawoos LLC.

 

A brief timeline on the transfer of shares of UPC:

 

2003

  • Shares of Tawoos LLC were transferred to the Ministry of Defence Pension Fund of Oman.

 

2009

  • Shares of Tractebel SA (now ENGIE) and International Finance Corporation transferred to MENA Infrastructure Investment Limited.

 

2010

  • Shares of National Trading Company LLC. W.J. Towell & Co. LLC and The Zubair Corporation LLC transferred their shares to MGEC (Oman) Holdings Limited.

 

2016

  • Shares of MENA Infrastructure transferred their shares to Manaah Power Co., a group company of Khaled Juffali Holding Co.

 

2017

  • Shares os MGEC (Oman) Holdings Limted were transferred to Manah Power Co. a group company of Khaleed Juffali Holding Co.

 

  • Shares of Mannah Power Co were transferred to its parent company, Khalid Jaffali Energy & Utilities Company, a group company of Khaled Jaffali Holding Co

 

Prior to formation of the Company and following a competitive bidding process, the founder shareholders were awarded, 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 ( “BOOT”) basis, and a related network of electrical interconnection and transmission facilities (the “ITF”), on build, own, transfer  (“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, firefighting system, liquid fuel storage, etc.).

 

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 installed capacity of the plant, therefore, reached 270 MW.  Consequent to the extension of the facilities, the life of the project has been extended to 19 May  2020. 

 

The Manah Power Station operates on Dispatch Orders from the Load Dispatch Centre of the Oman Electricity Transmission Company.  All of the net energy dispatched from the Manah Power Station is sold to Oman Power and Water Procurement Company (“OPWP”), which is responsible for all power purchases in Oman.UPC maintains an administrative office in Muscat.

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.

 

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