Home » Actis-Fortescue consortium wins bid to develop green hydrogen project in Oman

Actis-Fortescue consortium wins bid to develop green hydrogen project in Oman

by Madaline Dunn

A consortium between global investor Actis and Fortescue, a global integrated green energy, metals and technology company, has been awarded the rights to develop, build, own and operate a large green hydrogen project in Oman, it has been announced. 

The project is currently in the feasibility stage and is expected to involve the construction of up to c.4.5GW of wind and solar renewable energy resources to power electrolysers.

It was noted that the project has the potential to produce up to 200,000 tonnes of green hydrogen per year. 

Hydrogen Oman SPC (Hydrom), an independent entity founded by the Omani government to orchestrate and deliver the nation’s green hydrogen strategy, announced the selection, which provides the consortium with exclusive rights to a site allocated to the development of a future project.

Under the current plan, the green hydrogen is to be sold to local industrial offtakers as well as processed into derivatives (such as green ammonia) for export via the existing port of Salalah.

Moataz Kandil, MENA President at Fortescue, said that the strategic partnership between Hydrom, Actis and Fortescue will help to drive the development of a large-scale green hydrogen project in Oman, and also “lead the way for others around the world to follow,” cementing Oman as a “powerhouse in green molecules. ”

James Mittell, Director, Energy Infrastructure at Actis, added: “Green hydrogen represents an important sector in the Energy Transition – no green hydrogen, no net zero. We have been following the sector closely for a number of years; we have a well-defined strategy focused on finding opportunities with characteristics that fit the attributes of an Actis investment, including closely aligning with our sustainability agenda.”

“With Governments across the world creating frameworks and standards for green hydrogen and derivatives, Oman is one of the most attractive opportunities for low-cost green ammonia due to its land availability, strong solar and wind resources, port infrastructure and regulatory support. Winning this bid with Fortescue is a testament to Actis’ leading position in the global renewables space, at the forefront of the energy transition. We look forward to continuing our collaboration with Fortescue, the Omani government and local community on this project,” said Mittell.

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