Oman Expects USD 50 billion in Green Hydrogen Investments

Muscat: The Sultanate of Oman’s regulatory policies in the renewable energy sector contribute to attracting foreign investments quickly, and the availability of natural resources from wind and solar energy has promoted the entry of international partnerships to build projects that constitute added value to the national economy, at a time when the steps began Towards the infrastructure for hydrogen projects in light of identifying the locations on which they will be established.

Dr. Firas bin Ali Al-Abdwani, Director General of Renewable Energy and Hydrogen at the Ministry of Energy and Minerals, confirmed that five hydrogen projects have been awarded in the Al Wusta Governorate, and other projects will be awarded in the Dhofar Governorate soon, indicating that the volume of investments is expected to reach 50 billion dollars with future expansions of this sector, which The Sultanate of Oman is rushing to attract huge investments.

He pointed out that there are upcoming projects in renewable energy, including the Ibri 3 solar power station, in addition to several wind energy projects in the Al Wusta Governorate and the Dhofar Governorate, explaining that the Sultanate of Oman’s potential in the availability of natural resources for renewable energy will qualify it to be a pioneer in this field, which is It is currently at the forefront of countries in the world in terms of the use of renewable energy, as solar and wind energy projects have become prominent in producing clean electricity.

He added that the policies of the Sultanate of Oman are clear in the regulatory aspect of renewable energy, which encourages local and international investors to build projects for this, and there is consensus in policies for producing clean electricity with countries in the region. He revealed that since last October, economic blocs began to impose taxes on products that are not compatible with clean energy sources, which reduces these products in the markets, in light of international pressures to adapt to renewable energy. This is a trend that is in the interest of countries to reduce the severity of harmful carbon emissions, especially in countries. Major industrialized countries.

He said that the advantages enjoyed by the Sultanate of Oman will enable it to benefit economically from renewable energy, and this could be paralleled with the oil and gas economy if attention is paid to supply chains and manufacturing industries for renewable energy products such as green ammonia and liquefied hydrogen.

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