First energy transition fund worth $200 million launched in Oman
The fund has a capital of RO77 million, equivalent to $200 million, with each party contributing 50 percent.
The joint fund aims to accelerate the transformation of the energy sector in the Sultanate of Oman and enhance efforts to diversify sources of income in line with Oman Vision 2040 by investing in innovative projects that support net-zero goals and open new horizons for sustainable economic growth.
This fund is a pioneering initiative in the field of clean energy and the transition to a low-carbon economy, in line with the Sultanate of Oman's commitment to achieving carbon neutrality by 2050.
The fund's initial capital also aims to stimulate the attraction of additional capital and attract qualitative and scalable investment opportunities. All investment opportunities will be located within the Sultanate of Oman, supporting its ambition to become a regional hub for renewable energy solutions.
The fund aims to invest in sectors and strategic projects, including green fuels, low-emission data centers, energy storage, smart mobility, and renewable energy in all its forms, including solar and wind energy. It will also pay special attention to developing innovative solutions and technologies in the fields of energy efficiency and industrial innovation, in line with the needs of the Omani and regional markets.
The fund was established as a platform to stimulate the flow of joint investments. It aims to develop commercially viable projects in partnership with public and private sector institutions, while also working to attract additional investments from within and outside the Sultanate of Oman to expand the scope of its future programs and initiatives.
This partnership will enable Templewater, an alternative asset management company, to leverage its global network and technology partnerships to transfer and localize innovative, scalable solutions within the Sultanate of Oman, in line with the Oman Future Fund's role of stimulating the national economy, strengthening strategic partnerships, and achieving added economic value.
Abdul Salam bin Mohammed al Murshidi, chairman of OIA, emphasized that this partnership represents an important strategic step within the Authority's efforts to consolidate the Sultanate of Oman's position as a regional and global center for clean and renewable energy solutions. He noted that the Authority seeks to attract global expertise and best practices to support the Sultanate of Oman's efforts to become a leading source of green fuels and renewable energy solutions.
For his part, Mulham bin Bashir Al Jarf, Deputy Chairman of the Oman Investment Authority, said that the announcement of this fund coincides with accelerating regional and international efforts to address the challenges of climate change and the search for clean and sustainable energy sources. The Sultanate of Oman seeks to be a leading country in the production and export of green fuels and to create an attractive investment environment. He explained that the fund will contribute to the transfer of global best practices and the development of an innovation system to ensure sustainable returns on both the economic and environmental levels.
For his part, Cliff Zhang, Chairman and CEO of Temple Water, explained that this fund reflects the company's commitment to investing in solutions that contribute to achieving clear climate benefits and strong returns, and enhance energy security and investor confidence. He emphasized that the Sultanate of Oman, with its supportive regulatory environment and focus on future investments, is an ideal destination for industries related to the energy transition and economic diversification.
The fund is expected to attract strategic partners and investors from around the world, including major companies operating in the fields of renewable energy and clean technologies, providing an integrated platform that supports innovation and sustainability and empowers emerging projects in this vital sector.
This collaboration represents a new step in a series of initiatives led by the Oman Future Fund since its establishment in early 2024.
With a capital of RO2 billion, equivalent to $5.2 billion, 90 percent of its capital is allocated to strategic local projects and 10 percent to support small and medium enterprises and startups.
The joint fund will work to build effective partnerships with public and private sector institutions, provide new opportunities for training and capacity building in the renewable energy sector, and support research and development in this vital field.
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