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29 January 20242 minute read

DLA Piper supports on the first national auction of I-REC(E)s in Oman

DLA Piper proudly announces its instrumental role as the legal advisor to Nama Power and Water Procurement Company SAOC (PWP) in the groundbreaking first national auction of I-REC(E)s generated by the Dhofar Wind Farm, Oman’s first large-scale wind farm with a production capacity of 50 MW. I-REC(E)s , also known as International Renewable Energy Certificates for Electricity, are a form of tradable digital energy attribute certificate which are instrumental in tracking and promoting the global use of renewable energy.

Our role extended to advising on the auction's design, ensuring strict compliance with regulatory requirements and international best practices. We also played a central role in drafting essential auction documentation and the I-REC(E) transfer agreement, crucial elements in facilitating a transparent and efficient auction process. The DLA Piper team combined regional insights from Adam Haque and Trisha Jivan with international I-REC(E)specialist knowledge from Andreas Gunst and Kenneth Wallace-Müller.

This landmark transaction underscores DLA Piper's commitment to sustainable energy solutions and its leadership in navigating the intricate legal landscape of the renewable energy sector. Having previously advised PWP in the procurement of the 500 MW Ibri II Solar IPP and the 1,000MW Manah Solar IPPs, our continued collaboration with PWP further reinforces our role as a trusted partner in driving sustainability initiatives in the Sultanate of Oman and the wider Middle East region.