Instrata Capital Acquires Stake in Barka 1 Project

Bahrain-based Instrata Capital has closed the acquisition of an indirect 8% stake in Oman’s Barka 1 independent water and power project and related companies for its infrastructure fund.

The combined cycle gas turbine power and water desalination facility is located in Oman and has a production capacity of 20 million imperial gallons per day and 456MW of electricity.

The project serves 11% of Oman’s total electricity requirements and 17% of the country’s water needs under a long-term power and water purchase agreement with Oman Power and Water Procurement Company.

Instrata Capital CEO Suhail Hajee said Barka 1 IWPP is one of the first privately developed combined power and water projects to be established using the build-own-operate model.

Instrata Capital entered the agreement with ACWA Power of Saudi Arabia to jointly acquire 58% of the Barka 1 project, of which Instrata Capital holds an 8% stake.