Oman Secures Major Investment in Green Hydrogen
Image Source: Hitachi Social Innovation
Oman has made significant strides in its green energy ambitions with the awarding of a major green hydrogen project to a consortium led by Actis and Fortescue. The project, selected from a competitive tender process, will involve the construction of a substantial wind and solar power facility capable of producing up to 200,000 tonnes of green hydrogen annually.
The consortium will invest in developing, building, owning, and operating the project, which is strategically located to capitalize on Oman’s abundant renewable resources and its proximity to key markets in Europe and Asia. The produced green hydrogen will be utilized domestically and exported in the form of derivatives such as green ammonia.
This strategic partnership between the Omani government, represented by Hydrom, and the global leaders Actis and Fortescue marks a significant milestone in Oman’s journey towards a sustainable and low-carbon economy. The project is expected to create new jobs, stimulate economic growth, and contribute to Oman’s position as a global hub for green hydrogen production.
The consortium’s commitment to the project, backed by strong financial support from leading institutions, underscores the project’s viability and its potential to become a model for future green hydrogen initiatives worldwide.
