A contract to build the Sultanate’s first large-scale wind-based renewable power project is expected to be signed by next month. A European company is expected to win the project, which will generate 50 megawatt electricity at Harweel in Dhofar governorate, according to a source. The renewable energy project is being jointly developed by the state-owned Rural Areas Electricity Company (Raeco) and the UAE-based Masdar. The construction will take anywhere between 18 to 24 months to start power generation, after awarding the project. Earlier reports suggested that the renewable energy project in Dhofar will cost USD125mn. The plant will help reduce Oman's reliance on fossil fuels and meet the country's increasing energy demand. (Times of Oman)