Oman eyes at least $20bln investment from 2nd round of green hydrogen auctions
After the successful first round of auctions, which resulted in a total of five project awards worth more than $30bn, Hydrogen Oman (Hydrom) is now expecting to attract between $20bn-$30bn worth of investments through the second round of auctions for large-scale green hydrogen projects in the sultanate.
The first round of public auctions was launched late last year, and the agreements were signed in June 2023 with major international consortia and companies that will establish large-scale green hydrogen and ammonia projects in the sultanate.
In the second round of public auctions, which has already been launched, Hydrom plans to award three land blocks in the Dhofar region by the end of the first quarter of 2024.
“The expected investments in the green hydrogen sector in Oman until 2050 are estimated at $140bn. In the first round of public auctions, the presupposed cost of investments amounted to about $30bn. And in the second round, we look up for investments at a volume of $20bn-$30bn,” said Eng Abdulaziz al Shidhani, managing director of Hydrom, in an interview published in the latest edition of Duqm Economist magazine.
“The public auctions help achieve transparency on the one hand and attract serious investors who have the financial solvency to implement such projects on the other hand,” he added.
Hydrom focused on the Duqm region in the first round of public auctions and is now concentrating on Dhofar in the second round, through three opportunities offered to companies specialising in the green hydrogen sector.
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