Hydrom, an Oman-based hydrogen company, has signed agreements to develop green hydrogen projects that would require an investment of $20 billion, the Gulf nation’s state news agency reported.
The company signed three memoranda of understanding with BP Oman, the Amnah consortium, and the Green Energy Oman alliance.
The three projects are expected to generate a total of 500,000 metric tons of green hydrogen annually from over 12 gigawatts of renewable energy capacity.
The announcement comes in the context of increasing investments in renewables in the Middle East, as countries seek to move away from the fossil-fuel-funded economy. This May, Saudi Arabia-based NEOM Green Hydrogen reached financial closure on an $8.4 billion green hydrogen site that will generate 600 metric tons daily of CO2-free hydrogen in the form of green ammonia, by using as much as 4 gigawatts of solar and wind power.
During the same month, UAE-based Masdar and Airbus signed an agreement for the development and growth of sustainable aviation fuel, clean hydrogen, and direct air capture (DAC) technology.
Hydrom’s goal is to operate at least six H2 projects by the end of this decade, producing at least one million metric tons per year of green hydrogen, which would require an estimated investment of approximately $30 billion.
News sources report that the BP Oman project is expected to produce 150,000 metric tons of green hydrogen annually for the production of ammonia and export. The facility will have a capacity of 3.5 gigawatts of installed renewables.
The Green Energy Oman Alliance constitutes a consortium of OQ, Oman Shell, Kuwait’s EnerTech, InterContinental Energy, and Golden Wellspring Wealth. Their project with Hydrom could produce as much as 150,000 metric tons annually of clean hydrogen and its deliverables from 4 gigawatts of installed renewables capacity.
The biggest project of the three is the one of the Amnah consortium, which brings together Copenhagen Infrastructure Partners, Blue Power Partners, and Al Khadra, which is a subsidiary of Oman’s Hind Bahwan Group.
The Amnah consortium will generate 200,000 metric tons annually of green hydrogen from 4.5 gigawatts of installed renewable energy capacity. The clean H2 from the consortium will be supplied for planned green steel facilities at the special economic zone at the Port of Duqm on the coast of the Arabian Sea in Oman.