- SolarPower Europe, supported by the Global Solar Council (GSC), and the Middle East Solar Industry Association (MESIA), launches its report on solar investment opportunities in Oman.
- The latest work of SolarPower Europe’s Global Markets workstream contains the most recent economic and political advancements in the country, including the announcement of Oman’s new decarbonisation target for 2050, and the latest legislative amendments of the electricity market, including the creation of a new spot market for electricity.
- The report outlines the country’s targets to reach net-zero; Oman will need to install a minimum of 13 GW of solar in total by 2030 to meet its ambitious 2050 net-zero target.
Brussels, BELGIUM (Wednesday, 17 April): SolarPower Europe has published its report: “Oman: Solar investment opportunities.” This new publication offers key insights into the Omani solar sector, and opportunities for international investment.
Katherine Poseidon, Chair of SolarPower Europe’s Global Markets Workstream, and Head of Strategy, Analytics & Process’ at Voltalia, stated; “There are no limits to Oman’s potential solar growth, as a country home to abundant natural resources. In an evolving regulatory and legislative landscape, this report aims to make an important contribution to the country’s solar journey.”
Paolo Travaglini, Head of Area Coordination Renewables Africa, Asia, Oceania at Eni Plenitude and former Chair of SolarPower Europe’s Global Markets Workstream; “Thanks to its high potential for renewable energy and a government very committed to taking a leadership role in the renewable energy sector and green hydrogen production, Oman has all the prerequisites to become a success story of the energy transition and solar development.”
This report provides an overview of Oman’s business environment, and major macroeconomic trends, while analysing the regulatory framework and infrastructure network of the country. It maps the Omani energy sector, including the energy mix; key stakeholders and developments; and the policy and legislative framework governing renewable energy generation.
This report also updates the Oman chapter of SolarPower Europe’s 2021 report; “Middle East: Solar investment opportunities.” This revision contains the latest economic and political advancements in the country, and credible pathways for Oman to reach net-zero by 2050, following the most recent auction announcements, and the latest electricity tariffs and energy mix data. The country will need to install a minimum of 13 GW of solar in total by 2030, to stay on track to reach net-zero emissions by 2050. Moreover, the recommendations have been revised to reflect the evolving dynamics of the Omani energy sector.
Benjamin Clarke, Global Markets Manager, SolarPower Europe: “Oman is primed to become a solar superstar. The country is going in the right direction on its journey to transition away from fossil fuels. With this report, we want to guide the country in generating more investment in renewables, and unlocking the country’s true solar potential.”
Sonia Dunlop, CEO of the Global Solar Council said; “Oman has a unique opportunity here to show the world how to make the shift from being an oil and gas power, to a solar power. With the right market structure, grid infrastructure, and investment, the country can seize this opportunity to secure economic growth and jobs in its net-zero future.”
This publication was drafted by SolarPower Europe’s Global Markets workstream. The workstream launched in March 2018 to identify new avenues for worldwide business and cooperation, and contribute to the global energy transition.
The report is the fourteenth in a series of SolarPower Europe market reports, which includes: Mozambique, Senegal, Côte d’Ivoire, Myanmar, Kazakhstan, India, Tunisia, Latin America, Algeria, the Middle East, and Vietnam.
About the Global Solar Council
The Global Solar Council is the voice of the world’s solar energy industry on the global stage, a non-profit body based in Washington D.C., and representing national, regional and international associations, as well as leading solar sector corporations.
About Middle East Solar Industry Association
The Middle East Solar Industry Association- MESIA, is the only non-for-profit solar association bringing together the entire solar sector across the Middle East and North Africa (MENA) region. Their aim is to: promote solar growth and opportunities in the entire region, and collaborate as marketing and content partners with their local, regional and international members and partners.
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