Major Green Hydrogen Project Coming to Oman

Major Green Hydrogen Project Coming to Oman

Image Source: Hydrogen Tech World

A consortium led by Actis and Fortescue has been awarded rights to develop a large-scale green hydrogen project in Oman. This significant development marks a crucial step towards Oman’s ambitious green hydrogen strategy.

Project Details:

  • The project is currently in the feasibility stage and could involve building up to 4.5 gigawatts (GW) of wind and solar renewable energy sources.
  • This renewable energy will power electrolyzers with the potential to produce 200,000 tonnes of green hydrogen per year.
  • The produced hydrogen can be used by local industries or processed into green ammonia for export through the existing Port of Salalah.

Oman’s Strategic Advantage:

  • Oman’s strategic location between Europe and Asia, coupled with its strong infrastructure and investor-friendly policies, makes it ideal for green hydrogen production.
  • H.E. Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals, highlighted Oman’s “first mover advantage” in the global hydrogen industry, supported by abundant renewable resources and a favorable geopolitical position.

Partnership for a Sustainable Future:

  • Actis is a leading investor in sustainable infrastructure with extensive experience in renewable energy projects.
  • Fortescue is a global leader in green hydrogen with a proven track record of successful green projects.
  • Both companies see green hydrogen as a crucial solution for decarbonization and a transition away from fossil fuels.

Investment Potential and Global Impact:

  • The project represents a compelling investment opportunity due to strong demand, a supportive regulatory environment, and Oman’s strategic location.
  • The consortium has already received significant interest from prominent lenders, further solidifying the project’s viability.
  • Moataz Kandil, MENA President at Fortescue, emphasized the partnership’s potential to not only benefit Oman but also set a global example for developing green hydrogen projects.

Looking Ahead:

This project signifies a significant step forward for Oman’s green hydrogen ambitions. With strong partnerships and strategic advantages, Oman is well-positioned to become a leader in this emerging clean energy sector.

Source: Actis

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