Renewable Energy Oman and TotalEnergies target renewable projects By Pramod Kumar December 16, 2024, 10:39 AM Unsplash.com/Arno Senoner TotalEnergies and OQ Alternative Energy will own 49% and 51% of the joint venture, which will oversee three renewable-energy projects OQ Alternative Energy (OQAE), Oman’s state-backed renewable energy company, has signed joint-venture agreements with France’s TotalEnergies to develop 300 megawatts (MW) of renewable energy projects nationwide. The power generated will be supplied through long-term power purchase agreements (PPA) to Petroleum Development Oman (PDO), an exploration and production company. TotalEnergies and OQAE will own 49 percent and 51 percent of the joint venture, which will oversee three projects: a 100MW North Solar project in Saih Nihaydah, northern Oman, and Riyah 1 and 2, two 100MW wind projects in Amin and West Nimr fields in southern Oman. Construction will start in early 2025, with electricity production expected in late 2026. These solar and wind projects will generate over 1.4 terawatt-hours of renewable electricity annually. The construction of the three projects will provide long-term renewable electricity to PDO and support the Sultanate in its energy transition, said Olivier Jouny, senior vice president renewables at TotalEnergies. Oman’s heritage is at stake as it seeks investors for ‘lavish’ city Middle East on track to triple renewables capacity Oman plans fourth large-scale solar power park The Amin Solar IPP power plant and the Rima water treatment project, alongside the new ones, will reshape Oman’s energy landscape, generating 30 percent of power capacity from renewables by 2026, said Dr Aflah Al Hadhrami, managing director of PDO. No financial details were given. The country has set a goal for achieving net zero emissions by 2050, aligning with its 2040 vision.
Mining Ma’aden signs $1bn contracts to develop industrial cities Saudi mineral giant Ma’aden has signed three contracts worth a combined $922 million with foreign companies to develop a third phosphate fertiliser project. The majority state-owned Saudi mining company announced the agreements in a note to the Saudi bourse on Thursday, coinciding with the final day of the Future Minerals Forum in Riyadh. Ma’aden is […] 2 hours ago
Tax $660m a year ‘sin tax’ target set by Kuwait Kuwait hopes to raise 200 million dinars ($660 million) a year through a “sin tax” on unhealthy products as part of tax reforms proposed by the International Monetary Fund, the country’s finance minister said on Wednesday. Noora Al-Fassam told the official Kuwaiti news agency that her ministry was working on a new law for a […] 3 hours ago
Transport Tenders issued for high speed Abu Dhabi-Dubai rail link Tenders have been issued for the design and construction of central components in a high-speed rail link between Abu Dhabi and Dubai. Etihad Rail, the national rail company of the UAE, has sent out tenders for designing and constructing civil works and station packages for the line connecting the two cities as part of the […] 4 hours ago
EXCLUSIVE Aviation Wizz Air increases flights from UAE to Israel after ceasefire The budget carrier Wizz Air is increasing the number of flights between Abu Dhabi and Tel Aviv after the ceasefire agreement between Israel and Hamas. The airline had previously scaled back its Tel Aviv-Abu Dhabi service to four flights a week because of the conflict, down from its pre-crisis schedule of two flights a day. […] 4 hours ago
