Oil firm OQ to develop Oman 25 GW green fuels project, including hydrogen, with consortium.
A consortium including Oman’s state-owned oil firm OQ will develop a renewable energy project in the Gulf state capable of producing millions of tonnes of zero-carbon green hydrogen per year, the developers said.
At full capacity the project will consist of 25 gigawatts of renewable solar and wind energy to produce the hydrogen.
So-called green hydrogen, created by splitting water into its two components using electricity from renewable energy sources, is increasingly viewed as a fuel of the future to reduce carbon emissions from fossil fuels.
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Oil Firm OQ To Develop Oman 25 GW Green Fuels Project, Including Hydrogen, With Consortium
Other members of the consortium are Hong Kong-headquartered InterContinental Energy, a renewable energy project developer, and EnerTech, a clean energy investor and developer which is owned by the Kuwait Investment Authority.
“The project will help transform Oman’s skills base and technical expertise in renewable energy, providing a significant number of high value jobs during site construction and operation,” the statement said.
Gulf oil-producing countries are trying to diversify their economies by creating new sectors and revenues, including through a big push in renewable energy.
Abu Dhabi plans to produce and export hydrogen as fuel and Saudi Arabia is working on a $5 billion hydrogen project in the NEOM high-tech business zone.
Oil firm OQ to develop Oman green fuels project with consortium, Dubai, May 17, 2021
