Welcome to Phoenix Power, owner of Oman's largest power plant.


Phoenix Power draws its business strategy following our vision statement, as below:

“To become a respected brand within the Oman’s power market by being the safest, most reliable, efficient, and environmentally conscious power provider, ensuring exceptional services and value to our offtaker, shareholders and other stakeholders.”


The ambitious journey of Phoenix Power started in 2011, with Oman Power and Water Procurement Company (OPWP) inviting proposals for the development of an Independent Power Project (IPP) at Sur.  Following the competitive bidding process run by OPWP in 2011, the shareholders were awarded the contract to build the plant, which saw the incorporation of Phoenix Power Company.

The plant has been established under a Build, Own, Operate (BOO) scheme, which enables it to be operated beyond the Power Purchase Agreement (PPA) term of 15 years, either by extending the PPA (if agreed by OPWP), or by selling the power into an electricity pool which may exist at that time.


Axia Power Holdings B.V.

Axia Power Holdings B.V. is an entity that is 100% owned by Marubeni, which serves as an overseas investment vehicle for Marubeni’s investments into power projects.

Marubeni, acting as the lead member of the consortium, was established in 1858 and grew to become one of the leading Japanese trading houses. It oversees a range of operations that encompass the domestic market, export-import, and offshore trade, with  total assets of around USD 70 billion (as of December 2014). As of 1st April 2015, Marubeni has 5 business groups directly under the president and several committees, covering Food & Consumer Products Group, Chemical & Forest Products Group, Energy & Metals Group, Transportation & Industrial Machinery Group, and Power Projects & Plant Group. Power Projects & Plant Group consists of Power Projects Division, Energy & Environment Infrastructure Division, and Plant Division, and it is one of the core group within Marubeni.

Marubeni is very active in the IPP industry, having participated in 49 I(W)PP projects with the total gross capacity of 32,533 MW and the total net capacity of 10,541 MW (as of April 2015) in overseas. Marubeni’s role in the IPP business includes a wide spectrum including development, financing, equity participation as well as engineering, procurement and construction (“EPC”) and O&M. Marubeni operates I(W)PP projects in many countries around the world, including Oman, Saudi Arabia, Qatar, U.A.E., Tunisia, Turkey, Portugal, United Kingdom, Jamaica, Trinidad and Tobago, Australia, U.S.A, Canada, the Philippines, Thailand, Taiwan, Pakistan, India, Indonesia, Cambodia, Singapore, and Korea. In addition, Marubeni is an active player in the EPC business and has built over 102,145 MW of power plants worldwide. The power division’s vision is to establish itself in the top position in the comprehensive power business in Japan and abroad.

In addition to the power business, Marubeni has a variety of experiences in non-recourse project financing such as LNG related business and ship transportation business.  Marubeni has an outstanding record in project financing in emerging markets, and has arranged for funds from various export credit agencies, multilateral institutions, international commercial banks, institutional investors and local banks.



Chubu Electric Power Sur B.V.

Chubu Electric is a wholly owned subsidiary of CEPCo, established to hold shares in and manage Phoenix Power and the operation and maintenance company for the Project.

Chubu Electric’s wholly owned parent company, CEPCo, listed on the Tokyo Stock Exchange, is one of the largest among 9 regional power utilities in Japan, operating its own power plants, transmission and distribution systems. With its 33,386 MW generating capacity, CEPCo serves approximately 39,000 km2 and 16 million people and a significantly manufacturing focused area with companies such as Toyota Motors based in the region. CEPCo has vast experience over the years of power business and operation since its foundation in 1951.

CEPCo also has an established international business focused on power generation and related businesses in Middle East, Asia and North America, and is involved in a number of independent power projects as shareholder, developer and operator comprising net capacity of  3,260 MW. In terms of having business experience in the Middle East area, CEPCo is participating in 3 IPP/IWPP projects as a shareholder in Qatar and is engaged in technical partnership scheme with the local power sector there.



Qatar Electricity & Water Company

Qatar Electricity & Water Company, Q.S.C (QEWC), a Qatari Shareholding Company, was established in 1990, with the Government of Qatar as a major shareholder. QEWC has since been successfully meeting Qatar’s ever-increasing demand for electricity and water. It is one of the major companies in Qatar and the GCC region and owns and operates a vast network of power generation and water desalination stations in Qatar. The company has increased several folds its production capacity in the past 10 years. Outside Qatar, the company has stakes in Jordan and Oman. QEWC’s current total equity portfolio includes over 5,635 MW of power generation and 294 MIGD of water desalination capacity (including projects under construction) of which QEWC solely owns and operates 6 stations with total production capacity of 2,049 MW of power and 201 MIGD of water.



Multitech LLC

Multitech is part of the Suhail Bahwan Group, a leading business house in Oman.

Multitech is the investment arm of the Suhail Bahwan Group for participation in power and water privatisation projects in Oman. Multitech is the founding shareholder in: ∙

  • ∙ ACWA Power Barka SAOG (Barka 1 IWPP)
  • ∙ Al Suwadi Power Co. SAOC (Barka 3 IPP)
  • ∙ Al Batinah Power Co. SAOC (Sohar 2 IPP)
  • ∙ Phoenix Power Co. SAOC (under transformation) (Sur IPP)

Multitech also engages in the trading of welding products, electrical products, water treatment & oilfield chemicals and cranes. Multitech is under the day to day management of Bahwan Engineering Company LLC, the flagship of Suhail Bahwan Group.


Senior Management

Peter Jones
Chief Executive Officer
Phoenix Power

BA degree in Instrumentation and Electronics and a Diploma in Management Studies. IMD (Lausanne, Switzerland) general management programme. Demonstrable track record of success within the UK and International power sectors, covering oil, nuclear, coal, renewable and predominantly CCGT power generation in both merchant and contracted environments.

Mr. Jones joined Phoenix Power with a background of over 30 years’ experience within the electricity supply industry including 12 years spent with PowerGen (both in the UK and internationally) encompassing roles leading to Plant Manager of an oil fired power station in the UK and culminating in Plant Director for a CCGT plant in Budapest, Hungary. This was followed by a period of 10 years with the Swiss Energy Company, Alpiq, where he was Director of Operations and Maintenance for their European power assets, based in Prague, Czech Republic. Immediately prior to joining Phoenix Power, Mr. Jones was Managing Director of Alpiq Power Generation, France, with responsibility for a CCGT business in the central region of the country.

Kenji Yugeta
Chief Financial Officer
Phoenix Power

Mr. Yugeta started his career in 2010 working for Marubeni Corporation and has been involved in the development phase of Sur IPP since the summer of 2010, mainly working on negotiating the project documents and finance agreements. In June 2015, he was appointed as Chief Financial Officer of Phoenix Power.

Khalid Al Maawali
Commercial Manager
Phoenix Power

Bachelor’s Degree in process operation and maintenance engineering from Caledonian Collage of Engineering.

Mr. Al Maawali has over 15 years’ experience in power sector, and he has in depth experience in combined cycle power plant.  He worked 14 years in operation department as shift charge engineer in BARKA II power plant. He joined Phoenix Power Company in 2014 as a Commercial Manager. His responsibilities include monitoring the plant performance against approved short and long term business plan, reporting on variances against agreed performance parameters and targets, and ensuring that all statutory and regulatory obligations are met on assigned areas.

Steve Pace
Plant General Manager

Chartered Engineer and Member of the IMechE, with Bachelor of Science Degree BSc, Master’s Degree MSc in Advanced Technology from Staffordshire University and Post Graduate Diploma in Nuclear Reactor Technology from Royal Naval College Greenwich.

Mr. Pace has over 30 years of experience leading multi-disciplined teams. He has an excellent track record delivering successful results within a power generation background covering nuclear, gas processing and CCGT generating and process technologies. He has multi-functional management experience gained within roles in business development, engineering design, asset management, and operations and maintenance in power and desalination in both the United Kingdom and the Middle East. He took up the position of Plant General Manager Phoenix Operation and Maintenance Company LLC (POMCo) in September 2014.

PR Chandrasekar
Operation Manager

Bachelor’s Degree in Mechanical engineering and Master’s Degree in Heat power from Annamalai University in Tamil Nadu, India and Fellow of the Institution of Engineers, India.

Mr. Chandrasekar took up the position of Operation Manager of POMCo in June 2012. Earlier he worked with QEWC for seventeen years in various management roles in power plant operation and in planning department.

Before that Mr.Chandrasekar has worked in Neyveli Lignite Corporation (NLC), India for 14 years at various levels in project execution and power plant operations. He has a successful track record of more than 33 years of achievements set against an extensive electricity production power station of simple cycle background, covering engineering, operations and management responsibility in lignite, gas based power stations and water production by desalination plants in India and Qatar.

Jorge Castano
Maintenance Manager

Bachelor’s Degree in Electrical Engineering, Autonoma University, Colombia and Diploma of Business Administration from ICESI University, Colombia.

Mr. Castano has a successful track record of more than 18 years in the energy sector including CCGT and photovoltaic generation technology. He has extensive management experience in operation and maintenance of power plants, obtained in International assignments. Mr. Castano started his career in power plants working with General Electric for 5 years in Colombia. After that he joined InterGen Mexico for 5 years followed by a stint of 2 years at GE Spain. Before he joined POMCo in June 2012, he was working in Sunpower Europe for 4 years.

Board of Directors

Khalid Jolo
Non-executive Director and Chairman

Neil Cave
Non-executive Director and Deputy Chairman

Kazuaki Shibuya
Non-executive Director

Hiromi Sakakibara
Non-executive Director

Masamitsu Suda
Non-executive Director

Peter Jones
Chief Executive Officer

Business Strengths

Largest power plant in Oman

Phoenix Power is the largest power plant in Oman, with an installed capacity of 2,000 MW. As the largest power plant in Oman, the contracted power capacity represents c.27.8% of Oman’s MIS total currently contracted capacity of approximately 7,197 MW based on OPWP’s 7-year statement (2014-2020).

Strong and experienced project founders

Phoenix Power has the backing of Founders with a proven track record of implementing large and complex independent power and water plants globally and in the GCC. All Founders will remain Shareholders in the Company immediately after the IPO, with a collective holding of 65%:

Fully operational Project

The plant has been in full commercial operation since December, 2014. From 1 January, 2015, the plant has achieved a commercial reliability of 100% which stands testimony to the world-class plant operations.

Operated by the same founding shareholders

Plant operators Phoenix Operation and Maintenance Company LLC (POMCo), are managed by the same shareholders as Phoenix Power, creating seamless alignment between the company and the operator.

Maintained by the world’s best

Through the O&M Agreement with POMCo, Phoenix Power has also largely insulated itself from major operating and maintenance risks, with the maintenance contracted on a long-term basis to Siemens AG, a respected name in the industry globally.

Stable and predictable cash flows

Close to 97% of the total revenues of Phoenix Power in FY 2015 (excluding fuel revenue, which is virtually a pass-through) will be through capacity charges from OPWP for the contracted power capacity of the Plant. These capacity charges are payable regardless of orders or output of the Plant. Phoenix Power’s capacity charges are calculated so that they cover its debt service and other fixed costs, such as operating and maintenance, insurance, taxes and capital returns.

Robust contractual framework and long term power purchase agreement

Oman is a pioneer of private power privatization in the GCC. The project benefits from the proven contractual framework adopted by the Government, and leverages the strong track record of the country in tendering of IPPs and IWPPs.

The output from Phoenix Power’s installed capacity is contracted with OPWP, through a single long-term PPA which expires on 31 March 2029. Beyond the PPA period, Phoenix Power shall either extend its PPA with OPWP or sell its output in a liberalized market in a power pool or to eligible customers. Its decision to do so will depend, amongst other factors, on the evolution of the market regulations set by the Authority for Electricity Regulation, Oman (AER).

Strong and consistent demand for electricity

OPWP indicates that there is a significant surge in demand expected for electricity in Oman, underlined by many factors such as a growing economy, increase in population, more personal income, capital investment, housing, infrastructure and industrial spending and tourism developments.

In 2013, peak and annual demand in MIS for electricity were 4,455 MW and 22.7 TWh respectively. According to IPA’s analysis, this is expected to increase to 13,729MW and 66.1 TWh, respectively, for peak demand (including minimum reserve margin requirement) and annual demand in MIS at the end of the PPA period. IPA anticipates that the capacity of existing plants and firm new builds in the MIS will not be sufficient to cover demand thereafter.

Therefore, based on the results of the IPA’s study, Phoenix Power is expected to remain economically useful in the post-PPA period.

Long-term availability of natural gas

Natural gas is the primary fuel used at the plant. A long term NGSA entered into by Phoenix Power secures the supply over the contracted PPA period.

Experienced and Skilled Operational Personnel

Phoenix Power benefits from an experienced management team in addition to the experienced personnel employed by POMCo. Collectively, the plant benefits from extensive management expertise and operational knowledge accumulated through decades of collective experience.

Corporate Brochure

Download the corporate brochure here.