Oman’s OQ eyes multi-billion clean energy projects

OQ Alternative Energy, the green energy arm of Oman’s OQ Group plans to develop renewable energy projects with a total capacity of around 2 gigawatt (GW) to support the clean energy needs of oil and gas companies, as well as industrial zones, according to a report by Oman Daily Observer.

Top officials of the unit noted that this capacity is in addition to an estimated 30 GW of renewable energy schemes planned for development by OQ Alternative Energy (along with international partners) to power an array of large-scale green hydrogen projects being prepped for implementation over the next couple of decades.

“In addition to our clean energy portfolio, and our green hydrogen projects in the pipeline, we are continuously exploring new and innovative ways to reduce and manage our carbon footprint,” said Najla al Jamali, CEO of OQ Alternative Energy.

As part of the decarbonisation of its own sizable upstream hydrocarbon and petrochemicals assets, OQ is firming up plans to develop a pair of solar PV based to provide green energy for these projects.

But it is OQ’s strategic investments in green hydrogen projects – valued at around $40 billion – that continue to take centre-stage at the Alternative Energy Unit. Powered by around 30 GW of renewable capacity, these projects will account for a sizable proportion of Oman’s targeted annual production of 1 million – 1.25 million tonnes of green molecules by 2030, the Chief Executive noted.

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