Global integrated energy company, TotalEnergies SE (NYSE: TTE) and the OQ Alternative Energy (OQAE), have agreed to bring 300 megawatts (MW) worth of renewable energy projects to Oman.
Announced on Wednesday, Oman has commited to developing three renewable energy projects. The company is developing a 100 MW solar project, known as North Solar, in Saih Nihaydah. Also, TotalEnergies is aiming to build two 100 MW wind projects, called Riyah-1 and Riyah-2, in the southern regions of Amin and West Nimr fields, respectively.
These projects will generate over 1.4 terawatt-hours (TWh) of renewable electricity annually, which will be provided to Petroleum Development Oman (PDO) through long-term Power Purchase Agreements (PPAs). Construction will begin in early 2025, with production expected to start by late 2026.
“Following our recent successes in the Sultanate of Oman, notably with the launch of the Marsa LNG project in April, we are pleased to make a new step in the deployment of our integrated multi-energy strategy in Oman,” said Olivier Jouny, Senior Vice President Renewables at TotalEnergies.
TotalEnergies and OQAE’s collaboration is crucial for multiple reasons. These projects are central to PDO’s goal of sourcing 30 per cent of its power capacity from renewable sources by 2026, directly supporting Oman’s Vision 2040.
Furthermore, this initiative aligns with global efforts to reduce carbon emissions, as TotalEnergies strives to achieve net-zero emissions by 2050. Beyond environmental benefits, these projects promise to diversify the Omani economy, create jobs, and foster local expertise in renewable energy technologies.
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The middle east is going through an energy transition
The Middle East is traditionally associated with fossil fuels, but it’s undergoing a significant energy transition.
Countries like Saudi Arabia and the United Arab Emirates (UAE) are investing heavily in renewable energy projects, particularly solar and wind power. Factors such as climate change concerns, economic diversification and energy security are key factors with this shift.
Furthermore, General Electric Co (NYSE: GE) has engaged in a wide range of projects, including power generation, water desalination, and digital solutions to improve efficiency and sustainability in the region.
For example, there’s GE’s involvement in the Hamriyah Independent Power Plant in Sharjah, UAE. The company uses this plant and its three GE 9HA gas turbines in combined cycle operations.
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joseph@mugglehead.com
