TotalEnergies, in partnership with OQ Alternative Energy (OQAE) announced agreements to develop 300 MW of renewable energy projects. Petroleum Development Oman (PDO) will receive electricity through long-term Power Purchase Agreements.

This initiative supports the Sultane’s sustainable development and energy diversification objectives and aligns with Oman Vision 2040. OQAE owns 51% of the projects, while TotalEnergies owns 49%. 

Also read: TotalEnergies Strengthens Renewable Energy Presence with VSB Acquisition and Texas Solar Portfolio Sale

Three Key Renewable Projects

The collaboration will develop three renewable energy projects in Oman: North Solar, a 100 MW solar plant, and two 100 MW wind plants.

The project’s construction will begin in 2025, and electricity production will commence in late 2026. These projects will generate more than 1.4 TWh of renewable electricity annually.

Reinforcing Sustainability Objectives

Olivier Jouny, Senior Vice President Renewables at TotalEnergies said, “Following our recent successes in the Sultanate of Oman, notably with the launch of the Marsa LNG project in April, we are pleased to make a new step in the deployment of our integrated multi-energy strategy in Oman.”

He added, “Together with our partner OQAE, we are eager to start the construction of these three projects which will provide long-term renewable electricity to PDO while supporting the Sultanate in its energy transition.”

Also read: TotalEnergies and Aljomaih Energy Sign 25-Year PPA for 300 MW Solar Project in Saudi Arabia

OQAE’s Commitment to Clean Energy

Ms. Najla Zuhair Al Jamali, OQAE CEO, expressed pride in the partnership’s role in advancing Oman’s clean energy goals. “As the National Champion for Clean Energy in Oman, OQAE is committed to supporting the nation’s economic growth by developing innovative clean energy and low-carbon projects. With a focus on environmental stewardship and long-term prosperity, OQAE ensures the delivery of sustainable solutions to meet Oman’s evolving industrial energy needs,” she stated.

This collaboration between TotalEnergies, OQAE, and PDO marks a significant milestone in Oman’s journey toward a greener energy landscape. Integrating solar and wind technologies, the projects will decarbonize industrial energy use and support long-term sustainability goals for Oman.

Cordiant Capital has announced the acquisition of HydrogenOne Capital LLP, a firm specializing in alternative investments within the hydrogen sector. This acquisition reflects Cordiant’s hydrogen industry assurance and potential energy transition contributions.

Rebranding and Enhanced Resources for HGEN Shareholders

As per the deal, HydrogenOne Capital LLP will be rebranded. It will be known as Cordiant HydrogenOne following the acquisition. However the investment advisory relationship with HydrogenOne Capital Growth plc will remain unchanged.

This rebranding helps Cordiant expand its UK-listed company strategy. It offers HGEN shareholders increased resources and broader market access. The move also provides a clearer pathway to realizing the long-term value of the hydrogen ecosystem.

Also read: Air Liquide Secures €110 Million Grant for Hydrogen Project in Belgium

Cordiant’s Growth Capital Strategy

This acquisition fits with the company’s growth capital solutions strategy. The company works on value chains related to agriculture, digital infrastructure, and energy change.

Through this transaction, Cordiant will be able to use its experience and present investors with some of the best prospects in the energy transition.

Leadership and Expertise in Hydrogen

Benn Mikula, Managing Partner and CEO of Cordiant Capital stated that HydrogenOne’s team, including industry veterans Dr. JJ Traynor and Richard Hulf, brings immense hydrogen expertise to Cordiant.

By combining Cordiant’s global investment capabilities with HydrogenOne’s technical knowledge, the company aims to create more value for HGEN shareholders and expand its skills in energy transition infrastructure.

The Growing Role of the Energy Sector

Experts predict that the hydrogen sector might be key in decarbonizing global energy. The Hydrogen Council estimates hydrogen could meet 18% of global energy demand by 2050. This would create a market worth $2.5 trillion annually.

According to estimates by McKinsey, hydrogen could account for 19% of global energy demand by 2050. In addition, it could also cover 30% of transportation fuel and 15% of industrial energy demand.