Oman set to finalise 2GW green projects by year-end

OQ Alternative Energy (OQAE), Oman’s state-backed renewable energy company, is reportedly preparing to approve final investment decisions (FID) on 2 gigawatts (GW) of new renewable energy projects before year-end.

The company already has multiple projects under construction and expects its total portfolio to exceed 10GW by 2030, Oman Daily Observer, a local newspaper, reported, quoting Ghalib al Maamari, acting CEO of OQAE.

No details about the upcoming projects were disclosed.

Last week, a consortium comprising OQAE, UAE’s Masdar, and South Korea’s Midland Power appointed Chinese state-owned CPECC as the engineering, procurement, and construction contractor for the 500-megawatt (MW) Ibri III independent solar power project in northwest Oman.

OQAE is accelerating its involvement in the country’s emerging green hydrogen sector.  

“We are building very large, utility-scale renewable projects and we believe establishing this backbone will support the green hydrogen economy,” Al Maamari said.

The company’s portfolio of renewable and green hydrogen projects includes the Sohar renewable energy cluster in Al Batinah North (800MW), block 9 Solar in Al Dhahirah governorate (140MW), block 60 Solar at Bisat (35MW), Marsa Solar (300MW), HyPort Duqm, Green Energy Oman and Salalah H2.

Oman has set a target to reach net zero gas emissions by 2050.

The Gulf state aims to produce 30 percent of its electricity using renewable sources by 2030 and reach 100 percent clean energy capacity by 2050.