Oman’s green energy potential to be showcased at London forum

BALQEES ALORAIMI

MUSCAT: A key conference spotlighting renewable and green energy opportunities in the Sultanate of Oman will be held in London on July 27, 2022.

The two-day ‘New Energy Conference’ will seek to promote the Sultanate of Oman as a global destination for investment in green energy.

The opening session will be held under the auspices of Abdulsalam bin Mohammed al Murshidi, President of the Oman Investment Authority (OIA).

The event itself has been organised by the Ministry of Commerce, Industry and Investment Promotion in cooperation with the Omani Embassy in London, the Oman Investment Authority, the Ministry of Energy and Minerals, the Anglo-Omani Society and the Omani-British Friendship Society.

Asila bint Salim al Samsamiyah, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion, explained that the conference aims to focus on the Sultanate of Oman and to attract the international business community to the opportunities available in the green energy sector and other sectors such as industry, tourism, fisheries, mining, and logistics.

She added that the conference also aims to introduce the investment environment in the Sultanate of Oman and the facilities and incentives provided by the Omani government to investors, and to discuss investment cooperation opportunities in the renewable energy sector between the Sultanate of Oman and the United Kingdom, attract investments, enhance Omani exports and create investment partnerships.

The conference will focus on the opportunities, ingredients, capabilities, incentives, and advantages that can be presented to the British investor, and the Sultanate of Oman’s current view of clean energy as one of the most important sectors targeted in accordance with the Oman Vision 2040 and the National Energy Strategy.

The Sultanate of Oman has embarked on a number of green energy projects, with the aim of generating 30 per cent of electricity from renewable energy sources by 2030, said Al Samsamiyah, noting that there are many success stories for investment projects in the clean and renewable energy sector whose sources vary from wind energy, solar energy and green hydrogen.

The conference will also provide an opportunity for direct bilateral meetings with British companies specialised in this sector, presenting investment opportunities in the energy sector, and introducing investors to the investment environment, incentives and facilities for investment in the Sultanate of Oman.

Underlining the importance of the UK market, the Under-Secretary said Britain is presently the largest investment partner of the Sultanate of Oman.

This partnership has expanded over the past few years to include several sectors: most notably oil and gas, technology, infrastructure, defence and education. Foreign Direct Investments from the UK totalled RO 7.112 billion as of end-2020, she said.

Earlier this year, the Sultanate of Oman, represented by the Oman Investment Authority, signed a partnership agreement with Britain to enhance investment cooperation in the fields of clean energy and information technology.