Major green hydrogen project advances in Oman with Actis and Fortescue consortium
In a significant move for green energy, a consortium led by Actis, a leader in sustainable infrastructure investments, and Fortescue, a global force in integrated green energy and technology, has been awarded the rights to develop a groundbreaking green hydrogen project in Oman. This initiative, announced at a signing ceremony in Muscat by Hydrogen Oman SPC (Hydrom), marks a pivotal moment in Oman’s strategic push into renewable energy.
Pioneering Project to Boost Oman’s Renewable Energy Landscape
At the heart of this project is the development of approximately 4.5GW of renewable energy from wind and solar sources, aimed at powering electrolyzers to produce up to 200,000 tonnes of green hydrogen annually. This ambitious project, which is still in the feasibility stage, plans to cater to local industries and export green ammonia through the port of Salalah, leveraging Oman’s exceptional solar and wind resources.
Oman’s Strategic Advantage in Global Green Hydrogen Market
HE Eng Salim bin Nasser Al Aufi, Oman’s Minister of Energy and Minerals and Chairman of Hydrom, highlighted Oman’s strategic location and first-class infrastructure as pivotal to its emerging role in the global hydrogen market. The country’s advantageous geographic positioning and investor-friendly policies are seen as key factors in attracting significant international investment in green hydrogen.
Actis and Fortescue: A Strategic Partnership for a Sustainable Future
The collaboration between Actis, with its extensive experience in renewable projects, and Fortescue, known for its innovative approaches in the green hydrogen sector, is expected to set new standards in energy transition. Both companies view the development of a robust green hydrogen sector as essential for reducing reliance on fossil fuels and achieving global decarbonization goals.
Strong Market Interest and Future Prospects
The project has already attracted attention from top-tier financial institutions, a testament to its anticipated economic viability and strategic importance. Moataz Kandil, MENA President at Fortescue, and James Mittell, Director of Energy Infrastructure at Actis, expressed confidence in the project’s potential to catalyze further international cooperation and establish Oman as a leader in the production and export of green hydrogen and its derivatives.