Latest news with #MusandamGlobalInvestmentCoSAOC
Observer
24-05-2025
- Business
- Observer
Airborne Wind Energy set to make Oman debut
MUSCAT, MAY 24 A Polish-based clean energy company specializing in harnessing wind energy through the deployment of kite sails, has been tapped to introduce this technology in Musandam Governorate for the first time in Oman. The renewable energy technology, formally known as Airborne Wind Energy (AWE), will be deployed by Njord Energy Inc, headquartered in the Polish city of Wroclaw, under a partnership agreement signed with Musandam Global Investment Co SAOC, a community-owned, publicly-listed closed joint stock company. 'This initiative is a bold step forward in aligning with Oman Vision 2040, promoting energy diversification, environmental stewardship, and technological localization. By supporting the local development and future manufacturing of AWE components, we aim to stimulate regional innovation, create high-value jobs, and open export opportunities for homegrown solutions,' said Musandam Global Investment Co in a post. The partnership will pave the way for the development of a pilot project that 'leverages high-altitude wind and AI-powered systems to deliver clean, sustainable energy to Musandam's remote and mountainous areas,' it added. Njord Energy says its Airborne Wind Energy system utilizes kite sails to capture wind energy efficiently at altitudes up to 1,000 meters. 'This plug-and-play system operates autonomously, generating power from 10 kW to over 500 kW with minimal environmental impact and at a significantly lower cost than traditional turbines,' it noted on its website. Given the Musandam's remote and rugged mountainous settings, Airborne Wind Energy (AWE) technology – a term also associated with Kite Wind Power or Tethered Wind Energy Systems – is seen as cost-competitive in supplying clean electricity to small, isolated communities distributed across the governorate. These systems typically harness wind energy at higher altitudes (between 200 and 1,000 meters) using tethered flying devices such as kites, drones, or gliders. They can access stronger and more consistent wind currents than conventional wind turbines, which are typically limited to around 100–150 meters in height. The commercialization of Airborne Wind Energy in Musandam can potentially drive the deployment of this technology in supporting the sustainable energy requirements of remote communities located elsewhere along coastal or mountainous parts of the country.
Observer
07-02-2025
- Business
- Observer
Musandam's first aquaculture project begins trial harvest
MUSCAT: Musandam Aquaculture Company, the first Omani farmed fishing enterprise in Musandam Governorate, has begun trialling the harvest of sea-bream from its facilities at Khasab – a milestone that underscores the promising potential of aquaculture development in this northern enclave of Oman. A subsidiary of Musandam Global Investment Co SAOC, a closed joint stock company listed on the Muscat Stock Exchange, Musandam Aquaculture operates an integrated marine fish farming project at Al Harf off Khasab. The facility, backed by a number of foreign investors, targets the production of around 3,500 tonnes of farmed fish annually for regional and international markets. 'We are pleased to announce the successful completion of our second trial fish harvest at Al Harf Farm, part of Musandam Aquaculture Company in Khasab, Oman. This season has proven to be a success, yielding high-quality, fresh fish ready for distribution,' the company stated in a recent post. Work on the project began in earnest in early 2024, centring on the development of an open water farm, a fish breeding unit, facilities for juvenile stages, and a processing unit for fish packing, alongside a research and development lab. Land-based support infrastructure, such as storage, logistics, and ancillary services, have also been established in the vicinity of Khasab Fisheries Port. Significantly, the Omani government, represented by the Ministry of Agriculture, Fisheries and Water Resources (MoAFWR), has wholeheartedly backed the venture, in line with its accent on sustainable fishing to bolster the country's food security goals. In December, a delegation of officials led by Eng Yaqoub al Busaidi, Ministry Under-Secretary, undertook a field visit to the company's Aquaculture Services Complex at Khasab Fishing Port. The complex includes a first-of-its-kind fish hatchery, a fish feed warehouse, and fish packaging and preservation factory. The delegation also toured the offshore site of the floated cages where sea-bream is currently being farmed. They received an update on Musandam Aquaculture's plans for land facilities and farms proposed at Ghubb Ali as well, and its vision for importing its requirements of fish fry and feed for the current year. According to Invest Oman, the investment facilitation arm of the government, an ongoing 30-year master-plan for aquaculture development in the Sultanate of Oman targets an output of around 200,000 MT per annum of farmed fish by the year 2040, alongside the creation of some 11,000 jobs for Omanis. The sector is expected to contribute $5.2 billion to the GDP by 2040.
