$50 billion investments expected in green hydrogen in Oman – Dr. Firas.
The Sultanate of Oman’s regulatory policies in the renewable energy sector are attracting foreign investments, and the availability of natural resources like wind and solar energy has promoted partnerships to build projects that add value to the national economy.
Steps have been taken for building the infrastructure for hydrogen projects as locations have been identified where they will be established.
Dr. Firas Al-Abduwani, Director General of Renewable Energy and Hydrogen, Ministry of Energy and Minerals, confirmed that:
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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 with future expansions of this sector as the Sultanate of Oman is rushing to attract huge investments.
He pointed out that there are upcoming projects in renewable energy, including three solar power stations in Ibri, 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.
Oman 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 and there is consensus in policies for producing clean electricity with help from 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 major industrialised countries, he said.
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. With ONA inputs
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$50 billion investments expected in green hydrogen in Oman – Dr. Firas. source
