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Muscat Daily
3 days ago
- Business
- Muscat Daily
OIA unveils $200mn fund to accelerate Oman's energy transition
Muscat – Oman Investment Authority (OIA) has announced the launch of the sultanate's first investment fund dedicated to the energy transition in partnership with China-based alternative asset manager Templewater. The joint initiative, backed by Future Fund Oman (FFO), aims to advance Oman's clean energy ambitions and support economic diversification under Vision 2040. The 50:50 joint fund starts with US$200mn in capital, equally contributed by FFO and Templewater. According to OIA, the fund is designed to catalyse further investment and unlock opportunities in renewable energy and low-carbon technologies within the sultanate. 'All projects will be Oman-based, underscoring its strategy to become a regional hub for energy innovation.' OIA stated. The fund will invest in strategic sectors such as clean molecules, green data centres, energy storage, smart mobility, and renewable energy including solar and wind. It will also focus on industrial innovation, energy efficiency, and scalable technologies tailored for Oman and regional markets. Abdulsalam al Murshidi, President of OIA, described the fund as a key step in positioning Oman as a global leader in renewable energy solutions. 'OIA seeks to attract expertise and global best practices to support the sultanate's ambition to become a leading exporter of clean molecules and renewable energy.' Cliff Zhang, Chairman and CEO of Templewater, said the partnership reflects confidence in Oman's regulatory landscape and vision for energy security and sustainable growth. 'We are com-mitted to investing in solutions that offer measurable climate benefits and investor confidence.' Templewater will leverage its international partner network to support the localisation of clean technologies in Oman, aligning with FFO's mandate to stimulate strategic investments and maximise in-country value. The fund is expected to draw additional institutional capital from both domestic and international investors. It will act as a platform for collaboration between public and private sectors, supporting co-development of commercially viable projects, capacity building and R&D in the renewable space. This development follows FFO's launch in early 2024 with a capital base of US$5.2bn, 90% of which is allocated to large-scale national projects and 10% earmarked for SMEs and startups. The fund aligns with Oman's net-zero target by 2050 and reflects the sultanate's commitment to the Paris Agreement. OIA stated that the fund will also contribute to workforce development and innovation, while advancing Oman's aspirations to lead in clean molecule production and renewable energy exports. 'It will also contribute to research and development and the transfer of best international practices, strengthening the sultanate's innovation ecosystem and ensuring both economic and environmental sustainability.'
Observer
3 days ago
- Business
- Observer
OIA launches $200 million JV energy transition fund
MUSCAT: Oman Investment Authority (OIA) launched a $200 million joint energy transition fund here yesterday, July 9, 2025. 'The Energy Transition Fund' is the result of a partnership between OIA's Future Fund Oman (FFO) and Chinese investment firm Templewater, and is 'designed to accelerate Oman's shift to a low-carbon economy while unlocking scalable, investor-ready opportunities that reinforce the country's long-term development goals.' In his keynote address, the Deputy President of OIA, Mulham Basheer al Jaraf, underscored the significance of the partnership, saying: 'Today, we are pleased to launch an investment fund with a capital of $200 million, equally contributed by the Oman Future Fund and the Templewater Fund. This partnership comes at a time when the world is witnessing rapid transformations in the energy sector and a global and national shift toward sustainability and carbon neutrality. At the Oman Investment Authority, we believe that smart and targeted investment in this field not only contributes to achieving our environmental goals, but also opens up new horizons for economic growth and strengthens Oman's position as a regional hub for renewable energy solutions.' According to the Deputy President, the Fund will focus on channeling investments into sectors critical to the energy transition, 'This will serve as a true platform to stimulate high-quality investments in sectors related to energy transition—such as green fuels, data centers, stations and hubs, storage, smart transportation and mobility, and other vital sectors that will shape the future economy.' He added that the partnership represents an 'effective model of synergy and collaboration between the public and private sectors—both local and international.' 'It will enable us to transfer and localize advanced technologies and build national capabilities,' he noted. Cliff Zhang, Chairman and CEO of Templewater, shared the following about the partnership: 'We are truly thankful to the Future Fund Oman and the Oman Investment Authority for their partnership and vision. Their commitment to driving Oman's role in the global energy transition is not just forward-thinking—it is shaping real, tangible changes. From day one, FFO and OIA championed a collaborative approach—one that values innovation, global impact, and mobilizing capital at scale. That ethos is what made this project possible, laying the foundation for an investment vehicle that is both scalable and globally viable. We are proud to stand with FFO and OIA in bringing this vision to life.' Zhang added that the Energy Transition Fund is focused on high-impact investments in areas like clean molecules, energy storage, e-fuels, smart mobility, and clean data centers. 'These are central not only to Oman's Vision 2040 and Net Zero 2050 goals, but also to building a more diversified, resilient economy for the great nation of Oman. At Templewater, we are proud to be part of powering that future,' he stated. Significantly, Templewater is also set to establish an office in Muscat. 'As part of our long-term commitment to Oman, Templewater is establishing a local presence in Muscat, with local offices and dedicated team members on the ground. We look forward to working closely with our partners at FFO and OIA—not only as investors, but as partners and collaborators—embedding ourselves in the ecosystem and contributing to Oman's energy transition and economic diversification from within,' the Chairman said. According to officials, the Energy Transition Fund will operate with a deployment period of five years, focusing on strategic and high-impact investments ranging between $20 million to $40 million per ticket, aiming to build a portfolio of five to ten companies. The initial capital base serves as a catalyst to unlock further capital and attract high-quality, scalable investment opportunities aligned with Oman Vision 2040. Furthermore, all investments will be deployed within Oman, with the Fund committed to a 100 per cent in-country deployment strategy. It will focus primarily on identifying and investing in mature technologies with a Technology Readiness Level (TRL) of 8 and above. Moreover, the fund will leverage effective public and public partnerships to create opportunities for training and capacity building within the sector, in addition to contributing to research and development, and knowledge transfer. Since its establishment in early 2024 with a capital of $5.2 billion, the Future Fund Oman (FFO) has committed to allocating 90 per cent of its capital to strategic local projects and 10 per cent to support SMEs and Startups with the goal of enhancing economic diversification, maximizing in-country value (ICV), and supporting digital and technological transformation.
