Consortium announces integrated green fuels mega project in Oman

Consortium announces integrated green fuels mega project in Oman

Muscat: An international consortium comprised of OQ, which is Oman's global integrated energy company, InterContinental Energy, the leading dedicated green fuels developer, and EnerTech, a Kuwait government-backed clean energy investor and developer, announced it is developing an integrated green fuels mega project in Oman. The consortium has been collaborating on the project for more than three years, which will consist of 25 gigawatts (GW) of renewable solar and wind energy at full capacity to produce millions of tons of zero-carbon green hydrogen per annum. The hydrogen can be used locally, exported directly, or converted into green ammonia for international export. The consortium partners will leverage their broad existing commercial relationships and partnerships to secure long-term product sales agreements. Given the site's strategic location between Europe and Asia, as well as excellent solar irradiance and wind resource facing the Arabian Sea, the development is well-positioned to offer a secure and reliable supply of green fuels globally at a highly competitive price. Green hydrogen is expected to grow into a US$2. 5 trillion market by 2050. Demand comes from the shipping sector, which requires green ammonia for its significant decarbonisation needs, the aviation sector, which will utilise synthetic fuels made from green