Qatar-based Nebras Power is seeking to expand its investments in Oman and has announced plans to acquire Qatar Electricity and Water Company’s (QEWC) stake in Phoenix Power Company that owns and runs one of the largest Independent Power Projects in Oman, reported Trade Arabia.

The pending acquisition covers QEWC’s 9.75% stake in Phoenix Power and a 15% stake in Phoenix Operating and Maintenance Company. The deal is expected to go through this month.

According to MENAFN, Phoenix Power Company owns the 2,000MW Sur Integrated Power Plant in Oman, which makes up 28% of the total installed capacity of electricity connection in the Sultanate.