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. SPC was incorporated in 2004 after award of the Sohar IWPP project in a competitive tender.
Strategic Profile
Pro stress-test →The company sells electricity and water to Oman Power and Water Procurement Company SAOC under power purchase agreement and water connection agreements. SPC is listed on the Muscat Securities Market, with 35% of its equity capital being publicly traded. The company operates under a 15-year power and water purchase agreement providing stable revenue streams for critical national infrastructure.
Competitive Landscape
Pro stress-test →Sohar Power operates as a virtual monopoly in its service area with no direct competitors for the Sohar I IWPP facility. The broader Omani power sector includes other utility operators like AlSuwadi Power Co. (Barka III) and Al-Batinah Power Company (Sohar II), but Sohar Power remains the dominant utility operator with contracted supply obligations to the state utility OPWP.
Industry Context
Sohar Power Company SAOG operates in Power Generation and Water Desalination Utilities.
Key facts
Founded: 2004 · Headquarters: Muscat, Oman · Employees: 18 · Revenue: $80.2M · Market cap: $9.7M