Latest news with #RenewableEnergy
Zawya
6 hours ago
- Business
- Zawya
Oman's clean energy transformation is no longer a distant goal
From the desert interiors of Ibri to the coastal winds of Dhofar, Oman's energy future is shifting dramatically. The Ministry of Energy and Minerals' Annual Report 2024 outlines a bold transition: the establishment of seven dedicated Renewable Energy Zones across Dhofar, Duqm, Al-Ghazir, Manah, Ibri, Sur, and Musandam. These zones are not just strategic points on a map—they represent a national commitment to sustainability, economic diversification, and energy security. With long-term targets to generate 30% of electricity from renewable sources by 2030, Oman is investing heavily in solar and wind power. Utility-scale solar farms in Manah and Ibri are already under development, and the expansion of wind energy projects in Dhofar and Duqm is underway. These zones were selected for their geographic strengths—solar intensity, wind potential, and access to existing infrastructure—making them ideal for large-scale clean energy deployment. Yet Oman's ambitions go further. The report highlights the country's emerging role as a green hydrogen leader. Backed by abundant land and renewables, Oman aims to produce one million tonnes of renewable hydrogen annually by 2030, ramping up to 3.75 million tonnes by 2040 and 8.5 million tonnes by 2050. These targets would position Oman as the largest hydrogen exporter in the Middle East and among the top globally. To enable this, Oman has allocated approximately 50,000 square kilometers of land for hydrogen development—an area equivalent to the size of Slovakia. Through the government-backed entity Hydrom, a total of eight project agreements have been signed to date. These integrated projects combine solar, wind, desalinated water, and hydrogen production infrastructure, all focused on export readiness. Oman's strategy centers around green ammonia as the primary carrier for hydrogen exports. With existing port infrastructure and planned upgrades in Salalah, Duqm, and Sur, the country is well-positioned to deliver competitively priced ammonia to global markets. By 2030, Oman's hydrogen production costs are projected to fall to around $1.60 per kilogram, supported by some of the world's lowest renewable energy prices—between $25 and $35 per megawatt-hour. The economic outlook is equally compelling. The clean hydrogen economy could bring in $33 billion in investments by 2030, while generating an estimated $2 billion in annual revenues from exports. Domestically, switching from fossil-based hydrogen to renewable hydrogen in refineries and industry could cut CO₂ emissions by more than 7 million tonnes annually—roughly 7% of Oman's 2021 baseline—and save over 3 billion cubic meters of natural gas each year. These developments are part of a broader vision aligned with Oman Vision 2040. The government is also advancing regulatory frameworks, land auctions, and international certification to ensure credibility and competitiveness in emerging green markets. In parallel, Oman is exploring domestic hydrogen use in steelmaking and high-temperature industrial processes, setting the stage for low-carbon manufacturing clusters in the future. While the global hydrogen market remains in its infancy, Oman's proactive approach—coupled with its geographic, economic, and political advantages—makes it a serious contender in the race toward a net-zero future. The Annual Report 2024 paints a picture not just of aspirations, but of measurable progress, real partnerships, and structural reform. Oman's clean energy transformation is no longer a distant goal. It is an evolving national strategy, already underway—anchored in data, powered by sunlight and wind, and steadily redefining the country's place in the global energy landscape. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Yahoo
2 days ago
- Business
- Yahoo
This Energy Infrastructure Company Boasts Stable Cash Flows and High Payouts
Enbridge Inc. (NYSE:ENB) is included among the 12 Best Oil and Gas Dividend Stocks to Buy Now. A large natural gas pipeline snaking through a rural landscape. As one of the only dividend aristocrats in its sector, Enbridge Inc. (NYSE:ENB) has increased its dividend for 30 consecutive years and expects to continue this momentum by growing its business by 5% per year through the end of the decade. Currently, the company offers a quarterly dividend of C$0.9425 per share and has a dividend yield of 5.96%, as of July 15. Enbridge Inc. (NYSE:ENB) boasts a toll-booth-like pipeline and utility business that centers around fixed fees and other contracts that generate stable cash flows, allowing the company to maintain its dividend growth at a CAGR of 9% over the past three decades. The company is also diversifying beyond pipelines and into renewable energy through solar and wind projects. Moreover, it reported a secured growth backlog of $28 billion at the end of Q1 2025, ensuring sustainable cash flow and dividend growth in the future. Enbridge Inc. (NYSE:ENB) is a midstream energy company that focuses on transporting and distributing oil, natural gas, and natural gas liquids. The Canadian company moves about 30% of the crude oil produced in North America. While we acknowledge the potential of ENB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Nuclear Energy Stocks to Buy Right Now and The 5 Energy Stocks Billionaires are Quietly Piling Into. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News18
6 days ago
- Business
- News18
Cabinet Clears NTPC's Rs 20,000-Crore Investment In Renewable Energy
Last Updated: The Cabinet also clears an investment of Rs 7,000 crore by NLC India in renewables. The Cabinet Committee on Economic Affairs, headed by Prime Minister Narendra Modi, on Wednesday approved an investment of Rs 20,000 crore by power producer NTPC in renewable energy. The Cabinet also cleared an investment of Rs 7,000 crore by NLC India in renewables. Shares of NTPC Green, the renewable energy arm of NTPC, jumped 1.72% to close at Rs 111.98 apiece on the NSE, while the shares of NLC India settled 3.81% higher at Rs 283.40 apiece. 'The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has granted enhanced delegation of power to NTPC Limited for making investment in NTPC Green Energy Limited (NGEL), and subsequently, NGEL investing in NTPC Renewable Energy Limited (NREL) and its other JVs/ subsidiaries beyond earlier approved prescribed limit of Rs 7,500 crore up to an amount of Rs 20,000 crore for Renewable Energy (RE) capacity addition to achieve 60 GW Renewable Energy Capacity by 2032," said government in a statement. The enhanced delegation given to NTPC and NGEL will facilitate accelerated development of renewable projects in the country. This move will also play a vital role in strengthening power infrastructure and ensuring investment in providing reliable, round-the-clock electricity access across the nation, according to the statement. 'The Cabinet Committee on Economic Affairs… has approved a special exemption for NLC India Ltd (NLCIL) from the prevailing investment guidelines applicable to Navratna Central Public Sector Enterprises (CPSEs). This strategic decision enables NLCIL to invest Rs 7,000 crore in its wholly owned subsidiary, NLC India Renewables Limited (NIRL) and in turn NIRL investing in various projects directly or through formation of Joint Ventures, without the requirement of prior approval under the existing delegation of powers," an official statement said. According to the statement, the country is aiming to reach 500 GW of non-fossil energy capacity by 2030. As a Central Public Sector Enterprise and the leading Power Utility of the Country, NTPC, aims to add 60 GW of Renewable Energy Capacity by 2032 which will help the Country in achieving the aforesaid target and move towards larger aim of having 'Net Zero' emissions by 2070, said government. view comments First Published: July 16, 2025, 14:56 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
The Independent
6 days ago
- Business
- The Independent
Reform puts power companies on notice over clean energy plans
Reform UK has informed major wind and solar developers that it would terminate their access to the Contracts for Difference (CfD) scheme if the party comes to power. Deputy leader Richard Tice sent a formal notice, warning companies that participating in the upcoming CfD auction (AR7) would be at their own risk. The CfD scheme currently guarantees renewable energy developers a fixed price for electricity, insulating them from market volatility and encouraging investment. Climate analysts warned that scrapping the scheme would deter investment, jeopardise British jobs, and increase the UK's reliance on foreign gas. Labour criticised Reform UK's position, stating it would discourage clean energy investment, threaten jobs, and put the nation's energy security at risk.
Arab News
6 days ago
- Business
- Arab News
EU pledges $46.4bn for MENA renewables, borders, and migration
JEDDAH: Renewable energy, border security, and migration pathways in the Middle East and North Africa will receive €42.5 billion ($46.4 billion) from the EU from 2028, it has been announced. This doubled financial commitment, under a new funding instrument, aims to enhance stability and cooperation in the region. Speaking during a press conference in Brussels on July 17, EU Commissioner for Democracy and Demography Dubravka Suica said the increased budget reflects the bloc's strategic shift toward deeper cooperation with countries in region. 'This is a strong financial toolbox, with which we will invest in stability, security and prosperity, through mutually beneficial partnerships with our Southern neighbors in the Middle East, North Africa and the Gulf,' she said, emphasizing that the Mediterranean is not only a region of challenges but also one of opportunities. Suica further noted that the EU will support partner countries in addressing the underlying causes of socio-economic fragility, which she said are central to political instability and radicalization. She added that the bloc will also confront the challenges of the green transition by investing in renewable energy projects, benefiting citizens on both sides of the Mediterranean. 'These increased funds will enable us to respond more effectively to an increasingly volatile geopolitical context right at our doorstep,' the commissioner said. She stressed that the stability and prosperity of the Mediterranean are directly linked to Europe's own. 'Their safety is our safety. Their success is our shared success. Their protection of borders is also ours.' Suica described the Multiannual Financial Framework as an instrument that will strengthen the union, both internally and internationally. 'This new framework enables us to better protect our interest on a global stage and protect our values and interests in an increasingly complex geopolitical context,' she concluded.
