Pact to explore projects in green steel, aluminium and renewable energy signed
Image Source: The Economic Times
In a strategic move to strengthen bilateral ties and drive sustainable development, the Oman Electricity Transmission Company (OETC) and prominent Omani institutions have sealed a landmark agreement with leading counterparts from the United Arab Emirates (UAE). This pact, aimed at propelling green industries and renewable energy sectors, stands as a significant milestone in the region’s business landscape.
The signing ceremony was attended by a trade delegation comprising representatives from the Sultanate of Oman, along with their counterparts from leading companies in the United Arab Emirates.
This memorandum will enable the commencement of feasibility studies to explore the projects in the areas of renewable energy, green steel, and aluminium. OETC along with other Omani institutions and companies will work with the correspondents from UAE to conduct the feasibility studies and the electricity connection requirements to connect the renewable energy, green steel, and aluminium projects, identify the required investments, and achieve the highest security and reliability standards in line with accredited policies, laws, and criteria.
This step comes as part of the two countries’ efforts to unleash opportunities and potential in the fields of green metals, renewable energy, and environmental sustainability, and to provide the right climate and groundwork for the private sector to invest in these areas. It is also a step that will contribute added value to the Sultanate of Oman’s efforts towards achieving carbon neutrality by 2050. The private sector and investments through leading companies in green metals, renewable, clean energy, and environmental sustainability are key drivers in contributing to this transformation and enhancing the standing of both countries among the advanced nations driving the wheel of innovation in these sectors.
OETC is keen to support continuous growth in sectors such as renewable and clean energy, green industries, and others, due to its significant positive impact and added value in achieving the national visions embodied in Oman Vision 2040. This vision aims to develop the Omani economy, promote local, regional, and international investment opportunities, build a fertile and prosperous business and investment environment, as well as improve social welfare and continue the developmental journey in all sectors across Oman.
It is worth mentioning that OETC, a member of the Nama Group, is the only company responsible for the transmission and control of electricity across the Sultanate’s network. The electricity is transmitted from production stations to distributed load centres in the governorates. The transmission network operates at a voltage of 132kV and above to cover most of the governorates in the Sultanate, whether in the north or the south. Furthermore, OETC manages the interconnection lines between Oman and the GCC interconnection network, which operates at a voltage of 220kV.
