TotalEnergies (Paris: TTE) (LSE: TTE) (NYSE: TTE), in partnership with OQ Alternative Energy (OQAE), the National Renewable Energy Champion of Oman, has signed key agreements to develop 300 MW of renewable energy projects in alignment with its multi-energy strategy in the Sultanate. These projects will supply electricity through long-term Power Purchase Agreements (PPAs) to Petroleum Development Oman (PDO), the leading exploration and production company in the country.
With TotalEnergies holding a 49% share and OQAE 51%, the partnership will lead the development of three renewable energy projects:
- North Solar: A 100 MW solar project in Saih Nihaydah, northern Oman.
- Riyah-1 and Riyah-2: Two 100 MW wind projects in the Amin and West Nimr fields in southern Oman.
Construction is set to begin in early 2025, with electricity generation expected by late 2026. Together, these solar and wind projects will produce over 1.4 TWh of renewable electricity annually.
Olivier Jouny, Senior Vice President of Renewables at TotalEnergies, commented, “Building on our recent successes in Oman, including the Marsa LNG project launched in April, we are excited to further expand our integrated multi-energy strategy in the Sultanate. Alongside OQAE, we are eager to commence construction on these projects, delivering long-term renewable electricity to PDO and supporting Oman’s energy transition.”
Dr. Aflah Al Hadhrami, Managing Director of PDO, emphasized the significance of these agreements, stating, “These projects align with Oman Vision 2040 and our Net Zero by 2050 goals, diversifying energy sources and ensuring sustainable energy security. With initiatives such as the Amin Solar IPP Power Plant and Rima Water Treatment Project, PDO continues to drive innovation and sustainability in Oman’s energy sector. The new projects will help us achieve our target of sourcing 30% of our power capacity from renewables by 2026, reflecting our commitment to a cleaner future.”
Ms. Najla Zuhair Al Jamali, Chief Executive of OQAE, added, “As Oman’s National Champion for Clean Energy, OQAE is proud to lead these transformative projects that support PDO’s decarbonization goals. This milestone highlights our commitment to advancing Oman’s energy transition by delivering innovative and sustainable solutions that contribute to the nation’s economic growth and long-term prosperity.”
