Oman has initiated over $4 billion of solar and wind projects. They are building RO 2 billion green hydrogen and ammonia facilities to support its 2040 diversification strategy.
Green-energy projects should draw as much as $50 billion of overseas capital. This creates tens of thousands of well-paying jobs. Economically, Oman’s expanding green-energy sector reduces carbon emissions and generates new sources of revenue beyond hydrocarbons. Ibri-3 solar park and other wind parks of Sharqiyah, Wusta, and Dhofar attracted multinational consortia. Besides, planned projects in Duqm, Mahout, Harweel, and Sadah worth over $1 billion suggest Oman’s attractiveness to Saudi Arabian, Japanese, Chinese, Singaporean, and European investors.
Investments in green hydrogen and ammonia will form the cornerstone of the next phase. The Omani and a few foreign companies plan to establish 2 billion RO electrolysis and synthesis facilities from 2025 to 2030. A senior industry expert stated that, “These facilities will position Oman as a leading exporter of green hydrogen and its derivatives to Europe and Asia,”. They have cited the Sultanate’s solar irradiance and strategic ports.
These projects will create thousands of job opportunities for construction, operations, maintenance, and R&D. Additionally it will enable development of local supply chains and technical expertise in renewable technologies. They will help Oman attain environmental goals by reducing CO₂ emissions, water usage, and preserving their biodiversity.
All Gulf states are currently reassessing their energy policies to encourage private-sector participation, interconnect clean-energy networks, and develop carbon-mitigation technologies, following Oman’s sustainable development model. Oman is expected to attract up to $50 billion in foreign investment creating tens of thousands of good-paying jobs.
From an economic resilience point of view, Oman’s increasing green-energy portfolio not only lowers carbon emissions but also opens new sources of revenue generation outside hydrocarbons. Oman’s Ibri-3 solar farm and many wind farms in Sharqiyah, Wusta and Dhofar have already attracted multinational consortia. The upcoming schemes in Duqm, Mahout, Harweel and Sadah, valued over $1 billion put together emphasise the attractiveness of the Sultanate to Saudi Arabian, Japanese, Chinese, Singaporean and European investors.
Green hydrogen and ammonia investments form the cornerstone of the next phase. Omani and foreign companies have proposed RO 2 billion value electrolysis and synthesis facilities in 2025-2030. “These will make Oman one of the leading exporters of green hydrogen and its derivatives to Europe and Asia,” said a senior industry expert, citing the solar irradiance of the Sultanate and its strategic ports.
The magnitude of these projects is designed to generate thousands of direct and indirect jobs in construction, operation, maintenance and R&D. They also develop local supply chains and human capital in renewable technologies. They also serve to complement Oman’s environmental goals by reducing CO₂ emissions, conserving water, and preserving biodiversity.
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Source: Oman Establishment for Press, Publication and Advertising (OEPPA). Provided by SyndiGate Media Inc.
