UAE and Oman Seal AED 117 bn Deal to Boost Renewable Energy Cooperation
The signatories for green energy & green metal project included Abu Dhabi National Energy Company (TAQA), Abu Dhabi Future Energy Company (MASDAR), Emirates Global Aluminium (EGA), Emirates Steel Arkan (ESA), OQ Alternative Energy, and Oman Electricity Transmission Company.
April 24, 2024. By Anurima Mondal
The investment agreements worth AED 129 bn also include an industrial and energy megaproject valued at AED 117 bn, encompassing renewable energy initiatives such as solar and wind projects, alongside green metals production facilities.
UAE President Sheikh Hamed bin Zayed Al Nahyan was present at the meeting, along with Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Infrastructure; Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE; Ahmed bin Ali Al Sayegh, Minister of State; and Ammar bin Sulaiman Al Kharusi, CEO of Invest Oman, Sheikh Badr bin Abdullah Al Hinai, Chief of Media and Communications at Oman Investment Authority and Abdulaziz bin Saeed Al Shidhani, CEO of Green Hydrogen Company (Hydrom).
The signatories for green energy & green metal project included Abu Dhabi National Energy Company (TAQA), Abu Dhabi Future Energy Company (MASDAR), Emirates Global Aluminium (EGA), Emirates Steel Arkan (ESA), OQ Alternative Energy, and Oman Electricity Transmission Company.
Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, said, “The UAE and Oman have strong historical relations, which are founded on shared values, goals and principles. The agreements represent a major milestone in our bilateral ties, as they pave the way for us to leverage our collective strength to realise our shared vision of advancement and prosperity.”
The UAE-Oman business forum underscored the commitment of both countries to promoting investment partnerships, representing a significant step towards enhancing economic cooperation aimed at driving development through strategic investments.
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