Sohar Power Company SAOG Overview
Pro stress-test →Sohar Power Company SAOG owns and operates the largest power generation and water desalination plant in the Sultanate of Oman. The Company has built and owns the 585MW electricity generation and 33MIGD seawater desalination plant in Sohar. Since it reached commercial operation on 27th May 2007, it has been selling power and water to Oman Power and Water Procurement Company SAOC under a long term Power and Water Purchase Agreement.
Strategic Profile
Pro stress-test →Since its successful Initial Public Offering in August 2008, 35% of the Company's shareholding is listed on the Muscat Securities Market. ENGIE, MENA Sohar 1 SPV, Sogex Oman and Ministry of Defence Pension Fund (Oman) are currently owning the project having ownership stake of 35%, 20%, 10% and 5% respectively. The company operates under a long-term power and water purchase agreement with a state-owned utility, providing stable contracted revenue with minimal merchant risk.
Competitive Landscape
Pro stress-test →Sohar Power operates in Oman's regulated utility market with limited direct competition due to integrated power-water infrastructure and long-term state purchase agreements. Key regional utilities include United Power Company (also Oman-based) and regional IPPs in UAE and Saudi Arabia, though Sohar's contracted model differs from merchant power plants. Engie, a major shareholder, competes globally in independent power production.
Industry Context
Sohar Power Company SAOG operates in Independent Power Production and Desalination.
Key facts
Founded: 2004 · Headquarters: Sohar, Oman · Employees: 18 · Revenue: $80.2M trailing twelve months (as of May 2025) · Market cap: $9.7M (as of May 2025)