Oman Aims to Invest $140 Billion in the Sustainable Hydrogen Industry

On Sunday, the Sultanate of Oman launched its ambitious Green Hydrogen Strategy. The program anticipates investing $140 billion in a future low-carbon energy economy.

The Ministry also approved the formation of HYDROM, a unique hydrogen-centric energy firm that would supervise the country’s ambition for the development of a green hydrogen-based future economy.

The statements were made during a media event hosted by Salim bin Nasser al Aufi, who highlighted Oman’s future climatic commitment and comprehensive green hydrogen agenda.

Oman, led by His Majesty, has committed to achieving net-zero emissions by 2050. This is consistent with the Paris Agreement’s goal of reducing rising temperatures to 1.5°C above pre-industrial levels.

His Majesty has approved the establishment of the Oman Sustainability Centre to guide the country’s transition to a sustainable economy. The center will be the primary entity in charge of supervising and monitoring carbon neutrality initiatives and programs.

Oman is committed to decarbonizing and assisting the rest of the globe in doing so. The path to net zero represents a potential for Oman to generate financial benefits, boost productivity and competitiveness, and encourage investment to develop and improve the country’s economy.

Green hydrogen appears to be an important vector for Oman’s pursuit of its decarbonization, socioeconomic, and electricity security goals. Oman is blessed with significant renewable energy resources, as well as the proper sector framework with the development of HYDROM.

The goal is to establish effective, integrated, and adaptable ecosystems to safeguard and sustain Oman’s resources while boosting the country’s economy. This will be accomplished by establishing targets, a monitoring mechanism, and a follow-up process for activities and projects that contribute to net-zero emissions.

Furthermore, the growth of the green hydrogen economy will present Omani and worldwide enterprises with a strategic chance to engage and collaborate in promoting domestic and international energy supplies, economic transformation, and much-needed environmental catastrophe mitigation.

Oman’s investments by itself will total around 3 million photovoltaic panels, 10,000 wind farms, 5,200 electrolysis devices, and up to 180 GW of renewable power generation capability.

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